Brp Inc Stock Price, News & Analysis

BRP Inc. (TSX:DOO) announced that its Manitou pontoon boat Explore model was honored with the National Marine Manufacturers Association Innovation Award at the 2023 Minneapolis Boat Show. The award recognizes innovative marine products that stand out in design and consumer benefit. The Explore model features a modern design with customizable seating, a MAX Deck platform providing extra space, and is powered by the groundbreaking Rotax S outboard engine with Stealth Technology. This design aims to enhance the boating experience and meet the expectations of modern consumers.

BRP Inc. (TSX: DOO) has announced the construction of a new boat manufacturing plant in Chihuahua City, Mexico, as part of its Marine strategy. This facility aims to enhance manufacturing capacity to meet growing demand for their Marine products. The CA$220 million investment is expected to create up to 1,300 jobs, in addition to the existing 2,500 roles within the Marine Group. Production is set to begin in early 2025, optimizing BRP's global manufacturing footprint, including facilities in the U.S. and Australia. This strategic move aligns with the company's goal to drive innovation and market share in the Marine sector by 2025.

Can-Am, a brand of BRP (DOOO), achieved remarkable success at the Dakar Rally, securing its sixth consecutive win. Austin Jones became the youngest back-to-back champion in the T3 Lightweight Prototype class, finishing the grueling 8,500 km race in 51:55.53. In the T4 Modified Production class, Eryk Goczal made history as the youngest winner at just 18 years old, with a total time of 53:10.14. The Red Bull Can-Am Factory Team showcased exceptional performance, earning 25 of 26 cars in the race. This victory reflects Can-Am's continued dominance in off-road racing.

BRP's Sea-Doo Switch pontoon has been awarded "Boat of the Year" by Boating Magazine, recognizing its innovation in recreational boating. This accolade highlights BRP's commitment to making boating accessible and enjoyable for families. The Sea-Doo Switch is designed for first-time boaters, featuring easy operation, customizable configurations, and a range of power options from 130hp to 230hp. The award emphasizes its practicality, adaptability, and fun appeal, aimed at transforming the boating experience for a wider audience.

BRP (TSX: DOO) (NASDAQ: DOOO) announced an incremental US$500 million term loan to enhance its financial stability and support ongoing growth. The funds will repay an existing US$100 million term loan due in 2024 and reduce the drawn balance of its revolving credit facility. This loan, maturing on December 13, 2029, carries an interest rate of Term SOFR plus 3.50%. Following three strategic acquisitions, the company aims to strengthen its balance sheet and extend the maturity profile of its capital structure.

BRP (TSX: DOO) (NASDAQ: DOOO) announces a partnership with Red Bull to form the Red Bull Can-Am Factory Team, aimed at enhancing off-road racing. This multi-year collaboration will also evolve the Red Bull Off-Road Junior Team to nurture the next generation of racers. The new team will debut at the 2023 Dakar Rally, featuring elite drivers such as Seth Quintero and AJ Jones. The initiative focuses on mentoring young talent in various racing disciplines and advancing the sport globally.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the renewal of its normal course issuer bid (NCIB) allowing the purchase of up to 3,519,398 subordinate voting shares over one year, starting December 5, 2022. This represents around 10% of its public float as of November 28, 2022. The previous NCIB purchased 989,150 shares at an average price of $101.10. The Board believes these purchases could enhance shareholder value. The program will conform to TSX regulations and includes provisions for automatic share purchases during blackout periods.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) reported record revenues of $2,709 million for Q3 FY2023, a 71% increase year-over-year. Normalized EBITDA rose 94% to $488 million, while normalized diluted EPS reached $3.64, up 146%. Retail sales for Powersports products surged 43%, and the company gained market share in North America. BRP has acquired 80% of Pinion GmbH and assets from Kongsberg Automotive ASA. Due to strong demand, the full-year guidance for revenues and normalized EPS has been increased to a range of $11.65 to $12.00.