BRP Inc. cites supply chain issues in first quarter performance
BRP says it continued to deal with supply chain-related disruptions and inefficiencies as well as inflationary pressures during the first quarter.
BRP Inc. reported a first-quarter profit of $121 million as its revenue stayed essentially the same compared with a year earlier.
The maker of Ski-Doo snowmobiles and Sea-Doo personal watercraft says its profit amounted to $1.46 per diluted share for the quarter ending April 30, down from $244.4 million or $2.79 per diluted share in the same period a year earlier.
BRP says it continued to deal with supply chain-related disruptions and inefficiencies as well as inflationary pressures during the first quarter, which hindered the company’s ability to satisfy consumer demand and have enough product available.
The company says its normalized net income for the quarter amounted to $1.66 per diluted share, down from $2.53 per diluted share a year earlier.
Revenue for the quarter totalled $1.809 billion, up slightly from $1.808 billion the same time last year.
Analysts on average had expected earnings of $1.15 per share and $1.883 billion in revenue, according to financial markets data firm Refinitiv.
