BRP Inc., a company based in Valcourt, Quebec, Canada, announced that its earnings and revenue for the third quarter of 2022 increased when compared to that in the corresponding period of 2021, and increased its full-year guidance. As reported by the company, the total revenue increased to CAD2,709.30 million in the third quarter that ended in October 2022 when compared to that in the previous quarters, while net profit decreased significantly to CAD141.60 million.
The company creates, develops, produces, and markets year-round and seasonal powersports vehicles, OEM engines, maritime propulsion systems, and engines for go-karts, motorbikes, and light planes.
BRP Inc, which manufactures Skidoo and Sea-Doo, reported that it earned $141.6 million, or $1.76 per diluted share, for the three months ended October 31, 2022, in comparison to $127.7 million, or $1.53 per diluted share, during the corresponding period in the previous year. Instead of the earlier forecast of $11.30–$11.65, normalized earnings per share (EPS) for the entire year is now expected to be between $11.65 and $12.
According to BRP chief executive Jose Boisjoli, “BRP delivered record fiscal 2023 third-quarter results, well ahead of expectations, driven by our team's solid execution and our operational discipline. Looking ahead, we are in a strong position to sustain our growth thanks to our industry-leading brands, relentless innovation, proven performance, and quality products.”
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