Canadian Manufacturing

BRP reports Q2 profit and revenue up from year ago, raises full year guidance

Powersports vehicle manufacturer earned $2.89 per diluted share for the quarter ended July 31, up from the same quarter last year.

September 2, 2021  The Canadian Press

BRP Inc. reported a second-quarter profit of $212.9 million, up from $126.1 million a year ago, and raised its profit guidance for the year.

The maker of Ski-Doos and Sea-Doos says it earned $2.46 per diluted share for the quarter ended July 31, up from $1.43 per diluted share in the same quarter last year.

Revenue totalled $1.9 billion, up from $1.2 billion.

On a normalized basis, BRP says it earned $2.89 per diluted share in its latest quarter, up from a normalized profit of $1.14 per diluted share a year ago.

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In its outlook, BRP says it now expects its normalized earnings per share for the full year to be between $8.25 and $9.75, up from is earlier guidance for between $7.75 and $8.50.

The company also updated its revenue guidance to forecast an overall increase between 27 and 35 per cent compared with its earlier expectation for a gain of between 28 and 33 per cent.