BRP Presents Its Third Quarter Results for Fiscal Year 2025

Highlights

• Revenues of $1,955.7 million, a decrease of 17.5% compared to last year, resulting from softer demand and continued focus on reducing network inventory levels;
• Net income of $27.3 million, a decrease of 69.7% compared to last year;
• Normalized EBITDA ^[1] of $264.1 million, a decrease of 42.9% compared to last year;
• Normalized diluted earnings per share ^{[1] [2]} of $1.16, a decrease of $2.08 per share, and diluted earnings per share of $0.37, a decrease of $0.79 per share, compared to last year;
• North American retail sales decreased by 11% compared to last year;
• North American Off-Road Vehicle network inventory has decreased by 22% compared to last year-end, achieving our objective one quarter ahead of plan;
• Reaffirming full year-end guidance adjusted for Marine discontinued operations with revenues between $7.6 and $7.8 billion, and Normalized earnings per share – diluted ^{[1] [2]} between $4.25 and $4.75;
• Following the initiation of a process for the sale of the Marine businesses, the financial results are presented on a continuing basis, excluding Marine discontinued operations, and prior periods are reclassified accordingly.

VALCOURT, QUEBEC, CANADA – December 6, 2024 – (Motor Sports NewsWire) – BRP Inc. (TSX: DOO) (NASDAQ: DOOO) today reported its financial results for the three- and nine-month periods ended October 31, 2024. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available on SEDAR+ and EDGAR as well as in the section Quarterly Reports of BRP’s website.

“Our disciplined execution allowed us to deliver results above expectations, despite the macroeconomic context and the promotional intensity in the industry. We were the first Powersports OEM to prioritize network inventory depletion, and we are on track to deliver on our objective to reduce levels by 15% to 20% by the end of the current fiscal year. Driven by our second-to-none product line-ups, our solid dealer network, and improved inventory position, we are uniquely placed to capture opportunities when the market rebounds,” said José Boisjoli, President and CEO.

“We have strategically decided to double down on our core Powersports activities to protect our long-term profitable growth and to solidify our position as a global leader in the industry. We are investing to continue pushing technologies and innovation, and consumers can expect an exciting pipeline of new products in the coming years,” concluded Mr….