BRP ANNOUNCES THE RENEWAL OF ITS NORMAL COURSE ISSUER BID
Rhea-AI Summary
BRP (TSX: DOO, NASDAQ: DOOO) announced TSX approval to renew its normal course issuer bid to buy for cancellation up to 3,131,256 subordinate voting shares from Dec 10, 2025 through no later than Dec 9, 2026, representing about 10% of the public float of 31,312,560 shares as of Dec 2, 2025. As of Dec 2, 2025, 36,378,125 subordinate voting shares were outstanding.
Purchases will be made on-market or by permitted methods, with a daily TSX limit of 44,267 shares (25% of ADTV of 177,071) and weekly block-purchase exceptions. BRP put an automatic share purchase plan in place (APP) pre-cleared by the TSX effective Jan 24, 2026. Shares bought under the NCIB will be cancelled.
Positive
- Target buyback of 3,131,256 shares (~10% of public float)
- APP pre-cleared by TSX and effective Jan 24, 2026
- Block purchase option once per week under TSX rules
Negative
- Daily buy limit of 44,267 shares may slow repurchases
- Under prior NCIB through Dec 9, 2025, no shares were bought via TSX facilities as of Dec 2, 2025
- Purchases by private agreements may occur at a discount to market, affecting perceived execution transparency
News Market Reaction
On the day this news was published, DOOO gained 5.31%, reflecting a notable positive market reaction. Argus tracked a peak move of +3.8% during that session. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $286M to the company's valuation, bringing the market cap to $5.67B at that time. Trading volume was exceptionally heavy at 7.0x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While DOOO was up about 1.82%, key peers were mixed: THO down 3.38%, HOG down 0.93%, BC down 0.85%, while PII and LCII saw modest gains. This points to a more stock-specific move around the buyback news.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 04 | NCIB renewal | Positive | +5.3% | Renewal of normal course issuer bid to repurchase up to 3.1M shares. |
| Dec 04 | Earnings results | Positive | +5.3% | Q3 FY2026 beat with higher revenue, net income and raised guidance. |
| Dec 02 | Racing program update | Neutral | -0.2% | Announcement of Can-Am lineup and Maverick R platform for 2026 Dakar Rally. |
| Nov 25 | Product launch | Positive | +8.1% | Launch of affordable HVAC side-by-sides and new Outlander Electric variant. |
| Nov 20 | Earnings date notice | Neutral | +0.6% | Scheduling of Q3 FY2026 results release and investor call details. |
Recent BRP news, including earnings, strategic product launches, and this NCIB renewal, has generally coincided with positive price reactions, with only one minor divergence on event-focused racing news.
Over the last few weeks, BRP has delivered several noteworthy updates. On Nov 20, it scheduled Q3 FY2026 results. Product launches on Nov 25 drove a 8.05% gain, while Dakar Rally plans on Dec 2 saw a slight -0.24% move. On Dec 4, Q3 FY2026 results with $2,250.3M revenue and the renewed NCIB both aligned with a strong 5.31% price reaction, framing today’s buyback renewal within a broadly constructive fundamental backdrop.
Market Pulse Summary
The stock moved +5.3% in the session following this news. A strong positive reaction aligns with BRP’s recent pattern, where buyback and earnings announcements on Dec 4 coincided with a 5.31% move and product launches on Nov 25 with 8.05%. The NCIB allowing repurchases of up to 3,131,256 shares can support sentiment, but prior NCIB capacity went unused, and investors would need to monitor actual repurchase activity and broader liquidity to gauge durability.
Key Terms
normal course issuer bid financial
public float financial
block purchase financial
issuer bid exemption order regulatory
blackout periods regulatory
AI-generated analysis. Not financial advice.
The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.
Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 44,267 subordinate voting shares representing
The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees. In the event that BRP purchases subordinate voting shares by pre-arranged crosses, exempt offers, block purchases or private agreements, the purchase price of the subordinate voting shares may be, and will be in the case of purchases by private agreements, at a discount to the market price of the subordinate voting shares at the time of the acquisition.
In connection with this NCIB, BRP has entered into an automatic share purchase plan (the "APP") with a designated broker to allow for the purchase of subordinate voting shares under the NCIB at times when BRP would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. Pursuant to the APP, before entering into a blackout period, BRP may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the APP. Such purchases will be determined by the broker in its sole discretion based on parameters established by BRP prior to the blackout period in accordance with the rules of the TSX, applicable Canadian and
Under the NCIB that expires on December 9, 2025, BRP did not purchase any subordinate voting shares through the facilities of the TSX and alternative eligible trading systems as of December 2, 2025. Between December 10, 2024 and December 9, 2025, BRP was allowed to purchase a total of 3,331,852 subordinate voting shares, representing approximately
The Board of Directors of BRP believes that the purchase by BRP of its subordinate voting shares could represent an appropriate and desirable use of its available cash to increase shareholder value.
About BRP
BRP Inc. is a global leader in the world of powersports products, propulsion systems and boats built on over 80 years of ingenuity and intensive consumer focus. Through its portfolio of industry-leading and distinctive brands featuring Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The Company completes its lines of products with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Committed to growing responsibly, BRP is developing electric models for its existing product lines. Headquartered in
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Quintrex and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements included in this release, including, but not limited to, statements relating to the renewal of the normal course issuer bid and potential purchases of subordinate voting shares by BRP thereunder, or any other future events or developments and other statements that are not historical facts, constitute "forward-looking statements" within the meaning of applicable securities laws. The words "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes" "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements, by their nature, involve inherent risks and uncertainties and are based on assumptions, both general and specific.The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Actual results or future events or developments may differ materially from those expressed or implied by the forward-looking statements due to a number of factors, including those identified in BRP's annual management's discussion and analysis and audited consolidated financial statements for its fiscal year 2025, the management's discussion and analysis and interim financial statements for the first three quarters of its fiscal year 2026 and the other recent and future filings with applicable Canadian and
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SOURCE BOMBARDIER RECREATIONAL PRODUCTS INC.
FAQ
What is the size and timeline of BRP's renewed NCIB for DOOO shares?
How much of DOOO's public float does BRP's buyback represent?
When will BRP's automatic share purchase plan (APP) for DOOO start?
What are BRP's daily and weekly purchase limits under the DOOO NCIB?
Will shares repurchased under the DOOO NCIB be cancelled?
Did BRP purchase shares under the prior NCIB for DOOO through TSX facilities?
