BRP REPORTS FISCAL YEAR 2023 THIRD QUARTER RESULTS
Highlights
- Revenues of $2,709 million, up 71% compared to the same period last year, a record performance for a single quarter in the Company’s history;
- Normalized EBITDA [1] of $488 million, up 94% compared to the same period last year;
- Retail sales up for Powersports products by 43% compared to the same period last year, and market share gains for SSV in North America;
- Normalized diluted EPS [1][2] of $3.64, an increase of $2.16 per share or 146% and a record performance for a single quarter, and diluted EPS of $1.76, an increase of $0.23 per share, or 15%, compared to the same period last year;
- Acquisition of 80% of the outstanding shares of Pinion GmbH, and the purchase of substantially all the assets related to the powersports business of Kongsberg Automotive ASA in Quebec; and
- Increasing full-year guidance for Revenues, Normalized EBITDA [1] and Normalized EPS – diluted [1] upward by $0.35, now ranging from $11.65 to $12.00 representing a growth of 17% to 21% compared to Fiscal 2022.
“BRP delivered record fiscal 2023 third quarter results, well ahead of expectations, driven by our team’s solid execution and our operational discipline. Our strong product line-ups, additional production capacity and proactive approach to navigating supply chain challenges with the support of our suppliers and dealers were key factors in achieving exceptional retail growth of 43% for powersports in North America.
Given these strong results and the visibility we have on deliveries for the rest of the year, we are increasing our full-year guidance with an expected Normalized EPS of $11.65 to $12.00. 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.”
Given these strong results and the visibility we have on deliveries for the rest of the year, we are increasing our full-year guidance with an expected Normalized EPS of $11.65 to $12.00. 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.”
- José Boisjoli, President and Chief Executive Officer
[1] See “Non-IFRS Measures” section of the press release.
[2] Earnings per share is defined as “EPS”.
