MONTREAL

BRP reports second-quarter profit and revenue up from year ago

Published Thursday, September 7, 2023 9:44AM EDT

IMAGE DISTRIBUTED FOR BOMBARDIER RECREATIONAL PRODUCTS - Guests of BRP's Club Ski-Doo check out the long-awaited 2020 Ski-Doo Backcountry XR-S at the Gaylord Texan Resort and Convention Center Monday Feb. 18, 2019 in Grapevine, Texas. (Brandon Wade/AP Images for BRP)

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BRP Inc. reported its second-quarter profit and revenue rose compared with a year ago, helped by solid consumer demand for its recreational vehicles.

The Ski-Doo and Sea-Doo maker says it earned $338.7 million or $4.26 per diluted share for the quarter ended July 31, up from $237.7 million or $2.94 per diluted share a year earlier.

Revenue for the quarter totalled $2.78 billion, up from $2.44 billion in the same quarter last year.

On a normalized basis, BRP says it earned $3.21 per diluted share in its most recent quarter, up from a normalized profit of $2.94 per diluted share a year earlier.

In its guidance, the company says it now expects normalized earnings for its full year in a range of $12.35 to $12.85 per diluted share, up from its earlier expectations for a range of $12.25 to $12.75 per diluted share.

BRP also updated its revenue guidance for its full year to forecast growth of seven to 10 per cent compared with its earlier expectations for growth of nine to 12 per cent.

- This report by The Canadian Press was first published Sept. 7, 2023.