BRP reports 3Q results - Trade Only Today

BRP reports 3Q results

BRP said its fiscal third-quarter revenue increased 10 percent from the same quarter last year.
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BRP said its fiscal third-quarter revenue increased 10 percent from the same quarter last year to $1.01 billion Canadian, or about $734 million in U.S. dollars.

Revenue from propulsion systems increased by $15.2 million Canadian ($11.1 million U.S.), or 18.2 percent, to reach $98.5 million ($71.6 million U.S.) for the three-month period that ended Oct. 31.

The increase in revenue was attributed to a favorable mix of outboard engines sold with the introduction of the Evinrude E-TEC G2 engine and a favorable foreign exchange rate.

The company reported net income of $65.5 million Canadian ($47.6 million U.S.), compared with $37.2 million ($27 million U.S.), in the prior year’s quarter.

“Thanks to our geographic, manufacturing and product diversification and our solid execution we delivered strong results for the third quarter,” BRP president and CEO José Boisjoli said in a statement.

“During the quarter we entered the largest segment of the side-by-side industry by launching the Can‑Am Defender utility model and it has received very positive reviews by media and dealers alike. On the ATV and PWC side, our products performed well by registering continued market share gains.”

“While considering the volatile economic situation in many regions, I am pleased with how we have progressed so far this year,” he said. “We have delivered on our plan and we continue to gain momentum with our network worldwide. I remain confident that we will reach our objectives for FY2016.”

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