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Nov 27, 2019

BRP raises guidance as it reports higher third-quarter profit, revenue

The BRP research plant is shown in Valcourt, Que.

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VALCOURT, Que. -- BRP Inc. raised its financial guidance as it reported a third-quarter profit of $135.3 million, up from $90.2 million in the same quarter last year.

The maker of Ski-Doo snowmobiles and Sea-Doo watercraft says the profit amounted to $1.49 per diluted share for the quarter ended Oct. 31, up from 92 cents per diluted share a year earlier.

Revenue totalled $1.64 billion, up from $1.39 billion in the same quarter last year.

BRP says its normalized earnings per share came in at $1.51 per diluted share, up from $1.04 per diluted share a year ago.

Analysts on average had expected a profit of $1.31 per share on nearly $1.51 billion in revenue, according to financial markets data firm Refinitiv.

In its outlook, BRP says it now expects full-year revenue to grow 12 to 14 per cent compared with the earlier guidance for growth of 10 to 13 per cent. Full-year normalized earnings per diluted share are expected to come in between $3.70 and $3.80, up from earlier guidance for between $3.65 and $3.80.