Brp Inc Stock Price, News & Analysis

BRP has unveiled the 2022 Manitou pontoon boat lineup, enhancing luxury and performance with models capable of up to 900 horsepower. The new features include advanced V-Toon Technology for improved handling and safety, optional Mercury VesselView display, and redesigned color schemes. The Aurora LE model now offers premium packages with added lighting and sound systems, making it a standout for family leisure. With a strong focus on innovation, BRP aims to enhance on-water experiences for families.

BRP announced the launch of the 2022 Alumacraft Pro Series bass boats, designed to enhance fishing experiences. Key features include improved ergonomic seating, larger storage compartments, and vibrant color options. The Pro Series provides more value with spacious decks and excellent stability for anglers of all experience levels. Notably, bow deck storage has been redesigned to accommodate longer rods, while overall storage has increased by 25%. With a focus on comfort and durability, these boats aim to deliver an exceptional on-water experience.

BRP's Can-Am On-Road brand is experiencing significant growth, highlighting its appeal to diverse customer bases. In North America, over 50% of Can-Am Ryker owners are new to the market, with 33% being female and 49% from diverse communities. The introduction of the 2022 Can-Am Ryker Rally and other innovative models aims to enhance the riding experience. BRP is committed to empowering riders through education and community programs. With annual sales reaching CA$6.0 billion, BRP continues to innovate in the powersports industry.

BRP (TSX: DOO) (NASDAQ: DOOO) announces its 2022 Can-Am Off-Road vehicle lineup, featuring innovative enhancements to improve the rider experience. The brand introduces a groundbreaking 200hp engine in the Maverick X3, along with new Rotax engines HD7 and HD9, promising significant power increases. Enhanced features include advanced suspension, superior traction with the Visco-4Lok system, and a robust design for varying terrains. This release highlights BRP's commitment to performance and growing market demand, appealing to riders of all skill levels.

BRP (TSX: DOO) has introduced the 2022 Sea-Doo Switch, an innovative pontoon boat that combines the enjoyment of Sea-Doo with the stability of a pontoon platform. Starting at US$17,999, it features a modular design with almost 100 different configurations for various activities. The Switch is equipped with a Rotax jet propulsion system, making it the first pontoon with brakes. Additionally, BRP launches two new FISH PRO watercraft models, enhancing its fishing product range. The BRP GO! app will also be available for on-water use, improving the overall user experience.

BRP Inc. (TSX: DOO) has announced the completion of its substantial issuer bid (SIB), purchasing 3,381,642 subordinate voting shares at $103.50 each for a total of $350 million. This buyback accounted for 4% of the total issued shares as of July 27, 2021. Due to oversubscription, shareholders received approximately 83% of their tendered shares. The company will have 37,716,787 subordinate voting shares and 42,954,979 multiple voting shares outstanding following the purchase. A deemed dividend of $99.35 per share has been triggered for Canadian residents.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced the preliminary results of its substantial issuer bid (SIB) to purchase up to $350 million worth of subordinate voting shares. The SIB expired on July 23, 2021, with BRP planning to acquire approximately 3,381,642 shares at a price of $103.50 each, representing 4% of total shares outstanding. Due to oversubscription, shareholders will have about 83% of their tendered shares purchased. Following the SIB, BRP expects 37,716,787 shares and 42,954,979 multiple voting shares will be outstanding.

On July 17, 2021, a fire occurred in the storage yard of BRP's Juarez 2 facility in Mexico, leading to the safe evacuation of all employees and no reported injuries. The fire affected some side-by-side vehicles, resulting in the loss of approximately six days of production. Despite this incident, BRP anticipates no material impact on business and aims to resume production by mid-week. The company is working with authorities to investigate the cause of the fire while implementing measures to mitigate delivery delays.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced a substantial issuer bid to purchase up to $350 million of its subordinate voting shares. The offer will utilize a modified Dutch auction format, allowing shareholders to specify their tender prices within a range of $94.00 to $113.00. It is anticipated that the formal offer documents will be mailed on June 18, 2021, with the offer open until July 23, 2021. Key shareholders, Beaudier Inc. and 4338618 Canada Inc., holding approximately 27.7% of shares, will participate to maintain their ownership stake.