BRP Inc. (DOO) SEC Filings

BRP Inc. (DOO) reported strong top-line growth but sharply weaker profitability for the three- and six-month periods ended July 31, 2026. Second-quarter revenues rose 18.5% to $2,236.8 million, driven mainly by higher off-road vehicle (ORV) shipments and a favourable side-by-side vehicle mix, while six-month revenues increased 23.9% to $4,628.6 million.

Despite this growth, Q2 gross profit fell 34.0% to $262.5 million and gross margin contracted from 21.1% to 11.7%, reflecting Section 232 tariffs on U.S. metal imports and a supplier financial restructuring that reduced gross profit by $74.8 million (about 330 bps of margin). Normalized EBITDA for the quarter declined 34.9% to $138.8 million, and BRP posted a Q2 net loss of $136.8 million and normalized net loss of $13.0 million, largely due to lower gross profit, FX losses on U.S.-dollar debt and higher operating expenses.

For the first half, however, normalized EBITDA grew 14.3% to $473.2 million and normalized net income rose 19.7% to $121.5 million. Operating cash flow more than doubled to $686.8 million, supporting $559.4 million of free cash flow and $231.7 million returned via dividends and buybacks. BRP updated its Fiscal 2027 outlook to total revenues of $9,225–$9,475 million, normalized diluted EPS of $4.00–$4.50, and net income of $160–$195 million, and it expects Q3 FY27 normalized diluted EPS to be down about 50%–60% year over year mainly from higher tariffs.

BRP Inc. (DOO) reported strong top-line growth but significantly weaker profitability for the quarter and first half ended July 31, 2026. Second-quarter revenues rose to $2,236.8 million from $1,888.2 million, driven mainly by higher off-road vehicle volumes and favourable product mix in side-by-side vehicles, partly offset by lower personal watercraft shipments.

Gross margin contracted to 11.7% from 21.1%, and BRP posted an operating loss of $50.0 million and a net loss from continuing operations of $136.8 million, compared with income of $57.1 million a year earlier. Management attributes the margin pressure primarily to Section 232 tariffs on metals and a supplier financial restructuring that reduced gross profit by $74.8 million and 330 basis points, alongside an $72.6 million foreign-exchange loss on U.S.-dollar long-term debt.

For the first half of Fiscal 2027, revenues increased 23.9% to $4,628.6 million and Normalized EBITDA improved to $473.2 million, yet the company recorded a $9.5 million net loss versus $218.1 million income last year. Cash rose to $647.8 million while total long-term debt reached $2,499.5 million; BRP also repurchased 2,258,400 subordinate voting shares for $201.7 million under its normal course issuer bid.

BRP Inc. reports that shareholders overwhelmingly supported all management proposals at its annual meeting held on May 28, 2026. Every director nominee was elected, with individual support ranging from 92.85% to 99.96% of votes cast. PricewaterhouseCoopers LLP was reappointed as auditor with 99.85% of votes for. An advisory, non-binding resolution approving the Company’s approach to executive compensation also passed with 99.32% support. BRP confirmed updated board committee memberships effective May 28, 2026, and reiterates that it generated annual sales of CA$8.4 billion and employed close to 17,000 people across more than 110 countries as of January 31, 2026.

BRP Inc. reported a strong start to Fiscal 2027, with Q1 revenue rising 29.5% to $2,391.8M and gross profit up 42.2% to $561.6M, as higher off-road vehicle and watercraft shipments and better pricing lifted margins to 23.5%.

Normalized EBITDA jumped 66.5% to $334.4M and normalized diluted EPS climbed to $1.83, though reported net income fell 20.9% to $127.3M mainly from foreign exchange losses on U.S.-dollar debt and higher taxes.

Free cash flow improved to $367.3M, funding $57.1M of capital spending and $62.7M in dividends and buybacks, and the board declared a $0.25 quarterly dividend. Despite robust Q1, BRP revised FY27 guidance: total revenue is now projected at $9,125–$9,375M versus $8,442.7M in FY26, but normalized EBITDA is expected to decline to $925–$975M from $1,103.4M, and normalized diluted EPS to $3.00–$3.50 from $5.21, reflecting net tariff costs and higher expenses. The company also expects Q2 FY27 normalized diluted EPS to be down about $1.60–$1.65 versus last year.

BRP Inc. reported strong top-line growth for the quarter ended April 30, 2026, alongside mixed earnings. Revenues rose to $2,391.8 million from $1,846.9 million, driven by higher shipments and favourable mix in off-road vehicles and personal watercraft, plus pricing gains.

Gross profit increased to $561.6 million with margin expanding to 23.5%, helped by volume, lower sales programs and pricing, partly offset by global tariffs. Operating income more than doubled to $225.5 million, but net income from continuing operations declined to $127.3 million as tax expense rose sharply and foreign-exchange swung to an $8.8 million loss on U.S.-dollar debt.

Cash generation was strong: operating cash flow reached $425.5 million and free cash flow $367.3 million, lifting cash and cash equivalents to $697.5 million. BRP maintained leverage with long-term debt of $2,443.5 million and continued capital returns through $18.2 million of dividends and $44.5 million of share repurchases.

BRP Inc. amendment reports a group ownership interest represented by 21,709,901 Multiple Voting Shares that could be deemed beneficially owned by the filing group and convertible one-for-one into Subordinate Voting Shares. The filing cites 34,819,204 Multiple Voting Shares outstanding and 38,303,785 Subordinate Voting Shares outstanding as of December 31, 2025, producing a theoretical total of 73,122,989 Subordinate Voting Shares and an indicated ownership percentage of approximately 29.69%.

The amendment states that Beaudier Holdings LP was liquidated into Beaudier Inc. effective March 31, 2026, moving 800,000 Multiple Voting Shares into Beaudier Inc.'s totals. The filing is a joint Schedule 13G/A by Beaudier Inc., 4338618 Canada Inc., and six individuals, each listing shared voting and dispositive power over the reported 21,709,901 shares.

BRP Inc. reports that Capital World Investors beneficially owned 1,971,033 shares of Common Stock, representing 5.7% of 34,512,399 shares outstanding as of 12/31/2024. The interest is reported on a Schedule 13G and the filing is signed by Timothy J. Moon on 04/28/2026.

BRP Inc. is calling its 2026 annual shareholder meeting for May 28, 2026 at 11:00 a.m. Eastern, to be held in a virtual-only webcast format. Holders of Subordinate Voting Shares and Multiple Voting Shares as of the April 16, 2026 record date may vote.

Shareholders will elect 12 directors, vote on appointing PwC as new auditor for FY27, and give an advisory say-on-pay vote on executive compensation. The circular highlights the leadership transition to Pierre Beaudoin as Chair and Denis Le Vot as President and CEO, BRP’s FY26 performance, its “Mission 28” strategic plan, and the “Beyond the Ride – Sustainability 2030” program. BRP is using Canadian notice-and-access rules to distribute proxy materials electronically, with detailed procedures for registered and non-registered shareholders to obtain paper copies, appoint proxyholders, and vote online.

BRP Inc. is suspending its full-year FY27 financial guidance after the U.S. amended Section 232 tariffs on Steel, Aluminum and Copper imports, effective April 6, 2026. The change imposes a 25% tariff on the total value of imported snowmobiles and most off-road vehicle models, instead of the previous 50% tariff on metal content only.

BRP currently estimates the potential incremental tariff cost from this amendment to be in excess of $500 million for the remainder of the year, before any mitigation actions. Management acknowledges the material burden but highlights the company’s solid balance sheet, team agility and strong start to the year as support to navigate this environment.