BRP Inc. raises guidance, forecasting higher profits for the year
BRP says its normalized profit for the quarter amounted to $2.94 per diluted share.
BRP Inc. raised its guidance as it reported a second-quarter profit of $237.7 million and sales up 28 per cent compared with a year ago.
The Ski-Doo and Sea-Doo maker says its profit amounted to $2.94 per diluted share for the quarter ended July 31 compared with a profit of $212.9 million or $2.46 per diluted share a year earlier.
Revenue in what was the second quarter of the company’s 2023 financial year totalled $2.44 billion, up from $1.90 billion in the same quarter last year.
BRP says its normalized profit for the quarter amounted to $2.94 per diluted share, up from a normalized profit of $2.89 per diluted share a year ago.
In its outlook, the company says it now expects revenue for its full 2023 financial year to grow between 26 and 31 per cent compared with its 2022 financial year, up from earlier guidance for growth between 24 and 29 per cent.
BRP also raised its guidance for normalized earnings per diluted share for its 2023 financial year to between $11.30 and $11.65, up from earlier guidance for between $11.00 and $11.35.