Brp Inc Stock Price, News & Analysis

BRP Inc. has successfully completed the acquisition of Great Wall Motor Austria GmbH, an esteemed electric vehicle research and development center located in Kottingbrunn, Austria. This strategic move aims to bolster BRP's capabilities in e-drive systems and transmissions. With this acquisition, BRP-Rotax anticipates leveraging the expertise of the new team to enhance its electric vehicle technology across existing and future product lines.

On July 7, 2022, BRP (TSX: DOO) (NASDAQ: DOOO) announced an agreement to acquire Great Wall Motor Austria GmbH, enhancing its electric vehicle (EV) capabilities. This acquisition focuses on e-drive systems and transmissions, securing ongoing employment for 53 skilled employees. The new R&D center, located near Vienna, Austria, will leverage local talent from nearby universities. The transaction is contingent on customary regulatory approvals, expected to finalize by the end of Q2 of this fiscal year.

BRP (TSX: DOO) (NASDAQ: DOOO) has successfully increased its total revolving credit facility by CA$400 million, bringing the total to CA$1.5 billion. Additionally, the company secured a US$100 million term loan from existing lenders. CFO Sébastien Martel emphasized that these transactions enhance BRP's liquidity and reflect the positive momentum from the previous fiscal year. The term loan will bear interest at Term SOFR plus 3.0% and is due on June 10, 2024. Proceeds are intended for general corporate purposes and financing-related fees, solidifying BRP's financial position for future growth.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will host a live webcast for its 2022 Investor and Analyst Day on June 15, 2022, at 8:00 a.m. EDT, from Florida. Key executives, including CEO José Boisjoli and CFO Sébastien Martel, will outline the company's current activities and provide updates on the Mission 25 (M25) 5-year plan, along with its financial targets. Participants can access the live webcast and the presentation at www.brp.com.

On June 3, 2022, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) conducted its annual shareholders' meeting virtually. The company thanked Michael Hanley for his decade-long service as a board member. Shareholders voted to elect all nominated directors, with votes for key nominees exceeding 94%. Barbara Samardzich was appointed as Lead Director, while Nicholas Nomicos became the Chairman of the Audit Committee. Changes were also made to the Nominating, Governance and Social Responsibility Committee. BRP reported annual sales of CA$7.6 billion, showcasing its strong market position in the powersports industry.

BRP Inc. (TSX: DOO) reported revenues of $1,809.3 million, consistent with the previous year, while Year-Round product sales rose to a record $934.4 million. The company saw normalized diluted EPS decline to $1.66, down $0.87, and normalized EBITDA fell 28.2% to $272.1 million. Despite these challenges, BRP reaffirmed its FY23 revenue guidance, expecting growth between 24% to 29%, and raised its normalized EPS forecast to $11.00-$11.35. The company continues to navigate supply chain constraints while launching new products.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced the launch of its "Ride Out Intimidation" program aimed at combating intimidation globally. The initiative involves partnerships with organizations like Born This Way Foundation, Ditch the Label, and Jasmin Roy Sophie Desmarais Foundation to raise awareness and implement impactful projects. BRP will adopt a Zero-intimidation approach and integrate it into its Code of Ethics. The company aims to invest 1% of pre-tax profits in community causes by 2025 through its CSR25 program.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced significant executive appointments to bolster future growth and resilience. Effective immediately, Thomas Uhr becomes Chief Technology Officer, overseeing new product technologies and the EV program. Sandy Scullion is now President of the Powersports Group, managing operations in three countries. Karim Donnez leads the Marine Group, targeting industry transformation following recent acquisitions. Minh Thanh Tran is promoted to Senior Vice-President of Corporate Strategy, focusing on growth initiatives. These changes are expected to enhance overall business performance.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will present its first quarter FY2023 financial results on June 3, 2022, at 9 a.m. EDT during a conference call. The results will be announced on newswires at 6 a.m. EDT the same day. Following the call, the company's Annual Meeting of Shareholders will take place at 11 a.m. EDT, where fiscal year results ended January 31, 2022 will be discussed. Shareholders can attend virtually, and questions can be submitted in advance. BRP generates annual sales of CA$7.6 billion, with operations in over 120 countries.