BRP Shares Higher on Reaffirmed FY25 Guidance

Dow Jones2024-12-06

By Adriano Marchese

BRP shares rose after the company maintained its guidance for the year after accounting for a discontinued marine segment.

Shares jumped 11% to 75.54 Canadian dollars ($53.86).

The Canadian manufacturer of leisure vehicles, including the Sea-Doo and Ski-Doo brands reaffirmed full year-end guidance adjusted for Marine discontinued operations with revenue between C$7.6 billion and C$7.8 billion, and normalized earnings per share of between C$4.25 and C$4.75.

According to FactSet, analysts expect revenue to be C$7.87 billion, and normalized earnings of C$3.07 a share.

In October, BRP said it intends to sell off the majority of its marine businesses, which have been weighed down by softer consumer demand, to focus on powersports products such as snowmobiles and all-terrain vehicles. The sale won't include anything related to the Sea-Doo watercraft brand, BRP said.

The company has faced a sluggish demand-side environment in past quarters. Chief Executive Jose Boisjoli said that the company is focused on inventory depletion to offset the weight of promotional intensity across the industry. Boisjoli expects this should place BRP in a position to recover when market conditions improve.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 06, 2024 10:38 ET (15:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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