BRP reports Q3 profits dropped, lowers guidance
BRP says its normalized earnings per share for its most recent quarter amounted to $3.06 per diluted share, down from $3.64 per diluted share a year earlier.
BRP Inc. reported its third-quarter profit and revenue fell compared with a year ago and lowered its financial guidance for its full year.
The manufacturer of Sea-Doos and Ski-Doos reported a profit of $63.1 million or 81 cents per diluted share for the quarter ended Oct. 31, down from $141.6 million or $1.76 per diluted share a year earlier.
Revenue for the quarter totalled $2.47 billion, down from $2.71 billion in the same quarter last year.
BRP says its normalized earnings per share for its most recent quarter amounted to $3.06 per diluted share, down from $3.64 per diluted share a year earlier.
In its outlook, the company now says revenue for its 2024 financial year is expected to grow four to five per cent, compared with earlier expectations for growth of seven to 10 per cent.
BRP also says it now expects its normalized earnings per share for its full year to come in between $11.10 and $11.35, a result that would mean a drop of six to eight per cent compared to $12.05 in its 2023 financial year. The company had earlier expected normalized earnings per share between $12.35 and $12.85 for its 2024 financial year.
