Welcome to our dedicated page for Brp news (Ticker: DOOO), a resource for investors and traders seeking the latest updates and insights on Brp stock.
BRP Inc. reports news on its powersports, propulsion and marine product portfolio, including Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on-road and off-road vehicles, Quintrex boats, and Rotax propulsion systems and engines. Recurring updates cover quarterly operating results, North American powersports retail trends, ORV and PWC shipments, product launches, model awards, dealer availability and electric-model development across existing product lines.
Company news also includes capital-return actions such as normal course issuer bids, share buybacks and dividends, along with brand partnerships and motorsport programs tied to Can-Am, Ski-Doo and other BRP products.
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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.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) launched the Rotax E10, a 48V electric powerpack for karting, during the Rotax MAX Challenge Grand Finals in Portugal. This new product is designed for both professional racers aged 6-12 and recreational karting enthusiasts. The E10 aims to enhance BRP's shift towards electrification, with a target of completing this transition by 2026. It offers a plug-and-play experience, requiring minimal maintenance, and promotes carbon-neutral racing. The Rotax E10 will be available for testing starting in spring 2023.
BRP Inc. (TSX: DOO; NASDAQ: DOOO) emphasizes its commitment to responsible riding within the snowmobiling community, as outlined in the latest press release. Key initiatives include the 'Take the Pledge' campaign encouraging responsible use of trails, avalanche awareness seminars from October 4 to November 30, and the Ski-Doo Snow P.A.S.S program which has funded over $881,000 CAD towards community projects. Scheduled educational efforts during the International Snowmobile Safety Week from January 14 to 22 further enhance rider safety and etiquette, shaping a sustainable future for the sport.
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BRP Inc. (TSX: DOO, NASDAQ: DOOO) has commenced construction on its first electric motorcycle manufacturing facility in Querétaro, Mexico. This facility will produce the Can-Am Origin and Can-Am Pulse models, with production expected to start by March 2024 and consumer deliveries planned for summer 2024. The plant aims to create 500 new jobs and follows LEED principles to ensure sustainability. BRP emphasizes its commitment to reducing its carbon footprint and fostering an inclusive work environment.
BRP Inc. (TSX:DOO) (NASDAQ:DOOO) has successfully acquired the powersports assets of Kongsberg Inc. in Shawinigan, Quebec. This strategic acquisition aligns with BRP's electrification strategy, enhancing its expertise in mechatronics and innovation capabilities. The company welcomes over 300 skilled employees from Kongsberg, further strengthening its workforce. With an annual revenue of CA$7.6 billion, BRP aims to leverage this acquisition to expand its product offerings and maintain its competitive edge in the powersports industry.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced two key appointments in its executive team on September 26, 2022. Stéphane Bilodeau will become Chief Information Officer effective October 11, tasked with enhancing the company's information technologies to align with its business transformation. Additionally, BRP has created a new business unit, the Low Voltage & Human Assisted Group (LVHA), led by Minh Thanh Tran, focusing on emerging product categories. The company is also pursuing new markets with potential worth over $70 billion, bolstered by recent acquisitions.
BRP Inc. (TSX: DOO) reported record revenues of $2,439 million for Q2, up 28% year-over-year. Normalized EBITDA reached $418 million, matching the previous year's record. Diluted EPS was $2.94, showing a 20% increase. The company announced an upward revision of its full-year revenue and EPS guidance, now expecting Normalized EPS of $11.30 to $11.65. New product launches and acquisitions signal strong market positions, despite the lingering impact of a cyberattack from August 2022.