• Solid retail performance in North America with Powersports retail sales up 39%, compared to the same period last year
• Revenues of $1,809 million, up 47% compared to the same period last year
• Net income of $244 million, or diluted earnings per share of $2.79
• Normalized diluted EPS^[1] of $2.53, up 873% compared to the same period last year
• Tripled Normalized EBITDA^[1] to $379 million, compared to the same period last year
• Net debt reimbursement of approximately US$300 million and returned $289 million to shareholders through regular dividend and share repurchases
• Annual guidance increased with Normalized EPS growth of 44% to 58% ($7.75 to $8.50) compared to last year

“We had an exceptional start of the year, building on our momentum of growth from prior quarters. Our first quarter results were driven by ongoing robust demand for our products with North American Powersports retail up 39%. We were also lapping a quarter in which our manufacturing operations were partly shutdown.

Following our solid first quarter performance, positive outlook for the business and factoring in current supply chain constraints, we increased our overall guidance for Fiscal 22 with Normalized EPS now expected to grow between 44% to 58% over last year.

We are excited about the future and will concentrate on converting new entrants into lifelong customers, continue to introduce new products to the market and take full advantage of our anticipated additional production capacity. I thank our employees, suppliers and dealers for their relentless work.”

- José Boisjoli, President and CEO

^[1] See Non-IFRS Measures in attached press release.

Read the full information at Press Release.