Ski-Doo maker BRP posts strong Q4 showing, tops expectations
The company recorded $136.6 million in net income for the quarter, compared to a $28.7 million loss a year earlier
VALCOURT, Que.—The company that makes Ski-Doos, Sea-Doos and Spyders is reporting a stronger-than-expected fourth quarter.
BRP Inc. of Valcourt, Que., had $136.6 million or $1.22 per share of net income in its fourth-quarter ended Jan. 31.
That compares with a year-earlier loss of $28.7 million or 25 cents per share in the comparable period last year.
Normalized net income was $111.8 million, or $1 per share.
Analysts had estimated 96 cents per share of normalized and net earnings, according to Thomson Reuters data.
BRP’s revenue was up 17.7 per cent to $1.31 billion, which was above the estimate of $1.22 billion.
BRP is a spinoff from Bombardier that makes a variety of off-road vehicles and watercraft, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am four-wheel off-road vehicles and Spyder three-wheel cycles.