Brp Inc Stock Price, News & Analysis

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.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) held its annual meeting of shareholders virtually on June 3, 2021. During the meeting, it was announced that Joseph Robbins is leaving the Board of Directors after eight years of service. All nominees listed in the management proxy circular dated April 27, 2021, were elected, with Pierre Beaudoin receiving 95.10% of votes in favor. Key board committee changes included Charles Bombardier and Ernesto M. Hernández joining the Investment and Risk Committee. BRP continues to maintain a strong portfolio in powersports with annual sales exceeding CA$6 billion.

BRP Inc. (TSX: DOO, NASDAQ: DOOO) reported strong Q1 results for the period ending April 30, 2021, with revenues of $1,809 million, up 47% year-over-year. The net income was $244 million, yielding diluted EPS of $2.79 and normalized diluted EPS of $2.53, a staggering 873% increase. North American Powersports retail sales surged 39%. The company plans to return $289 million to shareholders and has raised its FY22 guidance, projecting normalized EPS growth of 44% to 58%. Financial metrics reveal a gross profit margin increase to 30%.

BRP Inc. (TSX: DOO, NASDAQ: DOOO) will announce its first quarter FY2022 financial results on June 3, 2021, at 6 a.m. EDT. The conference call, led by CEO José Boisjoli and CFO Sébastien Martel, will begin at 9 a.m. EDT. They will also discuss FY2021 results during the Annual Meeting of Shareholders at 11 a.m. EDT. This entirely virtual meeting allows global shareholders to attend. Archived recordings will be available post-event for 30 days.

BRP Inc. (TSX: DOO) (NASDAQ: DOOO) is set to announce its first quarter FY2022 financial results on June 3, 2021, during a conference call at 9 a.m. EDT. This will precede their Annual Meeting of Shareholders at 11 a.m. EDT, where the fiscal year results ending January 31, 2021 will also be discussed. The press release will be available on newswires at 6 a.m. EDT on the same day. Following the meeting, a recorded webcast will be accessible for 30 days. Shareholders will have opportunities to submit questions prior to the event.