Brp Inc Stock Price, News & Analysis

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has successfully completed its substantial issuer bid (SIB), purchasing 2,427,184 subordinate voting shares at $103.00 each, totaling approximately $250 million. This represents about 3% of the total shares outstanding as of May 10, 2022. The SIB was oversubscribed, leading to approximately 91% of the successfully tendered shares being purchased. The payment for the shares will be settled by Computershare on or about May 16, 2022. A deemed dividend of $97.65 per share was also triggered, qualifying as an eligible dividend under Canadian tax law.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the preliminary results of its substantial issuer bid (SIB) to repurchase subordinate voting shares for up to CA$250 million. The SIB expired on May 6, 2022, with BRP expecting to purchase 2,427,184 shares at CA$103.00 each, representing about 3% of its total issued shares. A total of 2,653,165 shares were validly tendered, resulting in an expected proration of approximately 91% for successful auction tenders. The final results will be verified by Computershare.

BRP Inc. (TSX: DOO, NASDAQ: DOOO) will conduct its annual general meeting of shareholders on June 3, 2022, at 11:00 a.m. EDT, via live webcast. This virtual meeting ensures equal access for shareholders worldwide. Registered shareholders are encouraged to vote in advance and can submit questions via email or during the meeting. Voting results will be disclosed post-meeting. BRP, a leader in powersports, reported annual sales of CA$7.6 billion and employs nearly 20,000 people globally.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has launched its CSR25 program, aiming to elevate its corporate social responsibility initiatives with ambitious environmental targets. The program focuses on three key areas: Environment, Social, and Governance. Key goals include reducing the carbon footprint by electrifying product lines with a $300 million investment over five years, achieving carbon-neutral facilities by 2030, and investing 1% of pre-tax profits in community support. BRP aims to set industry standards while fostering inclusivity through its Diversity, Equity, and Inclusion efforts.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced a substantial issuer bid to purchase up to $250 million of its subordinate voting shares. The offer, structured as a modified Dutch auction, allows shareholders to tender shares at specified prices between $103 and $123 per share. No minimum number of shares is required for the offer to proceed, and shares not purchased will be returned. The company plans to issue formal offer documents shortly, which will detail terms and conditions. Key shareholders intend to maintain their ownership proportion.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the return of the Can-Am brand to motorcycles with a fully electric product line, commemorating its 50th anniversary. The launch is aimed at capturing the evolving motorcycle market focused on electric vehicles. New models cater to various riders, promising functionality for commuting and recreational use. Expected availability is in mid-2024, with the initiative positioned to bolster BRP's market strength and fulfill customer demand.

BRP Inc. (TSX: DOO) announced strong FY22 Q4 financial results, with revenues of $2,347.5 million, up 29.3% year-over-year. Normalized diluted EPS reached $3.00, rising by 84.0% for the full year with record annual revenues of $7,647.9 million. The company expects FY23 revenues to grow 24% to 29% and normalized EPS to increase 8% to 12%. Expansion includes a new facility in Mexico and a return to electric motorcycles by mid-2024. Shareholder returns totaled $726 million through buybacks and dividends.

BRP Inc. (DOOO) will hold its fourth quarter FY22 financial results conference call on March 25, 2022, at 9 a.m. (EDT). The press release will be available on newswires at approximately 6 a.m. (EDT) on the same day, detailing the financial results. José Boisjoli, President and CEO, and Sébastien Martel, CFO, will discuss the results during the call. Interested parties can access the event via a toll-free call or a webcast. BRP is a leader in powersports with annual sales of CA$6 billion and operations in over 130 countries.