BRP Reports Fiscal Year 2023 First Quarter Results

Highlights

• Revenues at $1,809.3 million which are similar to those of last year’s first quarter;
• Revenues from Year-Round products up $11.9 million at $934.4 million compared to last year’s first quarter, a record high for a first quarter;
• Market share gains in SSV and ATV in North American Powersports despite limited product availability;
• Normalized diluted EPS ^[1][2] of $1.66, a decrease of $0.87 per share, while diluted EPS of $1.46, a decrease of $1.33 per share compared to the same period last year;
• Normalized EBITDA ^[1] of $272.1 million, a decrease of $106.9 million or 28.2% compared to the same period last year;
• Reaffirming full year-end guidance for revenues and Normalized EBITDA ^[1] and adjusting Normalized EPS – diluted ^[1] upward by $0.25, now ranging from $11.00 to $11.35.

Recent events:

• On March 25, 2022, the Company announced its return to the motorcycle industry with the launch of a family of electric 2-wheel motorcycles. The first models of the complete lineup are expected to be available in mid-2024;
• On April 11, 2022, the Company announced its commitment to take corporate social responsibility (CSR) even further with the launch of its new CSR25 program. It includes more ambitious environmental targets than ever before, aiming to become the industry leader in corporate citizenship;
• On May 11, 2022, the Company announced that it has repurchased for cancellation 2,427,184 subordinate voting shares following the completion of its Substantial Issuer Bid for a total consideration of $250.0 million.

VALCOURT, QUEBEC, CANADA – June 3, 2022 – (Motor Sports NewsWire) – BRP Inc. (TSX: DOO, NASDAQ: DOOO) today reported its financial results for the three-month period ended April 30, 2022. 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 first-quarter results once again demonstrate…