BRP today reported sales of C$249.4 million for its third quarter ended October 31, 2019, a 17.9 percent increase compared to the same period a year ago. Net income was C$135.3 million compared to C$90.2 million a year ago.
“We delivered once again a solid financial performance and our best third quarter ever,” said José Boisjoli, president and CEO, in a statement. “Our industry is performing well globally, and we continue to outpace it with double-digit growth. As we look ahead, our strong third quarter results allow us to raise the lower end of the guidance for our full year normalized EPS range with expected growth of 19 to 23 percent.”
North American retail sales for powersports vehicles and outboard engines increased by 21 percent for the quarter, though the increase was driven by higher wholesale of Year-Round Products and snowmobiles.
Marine segment sales dropped by C$3.4 million, or 2.3 percent, to C$142.4 million for the quarter. The decrease was mainly due to a lower volume of outboard engines sold, offset by the additional revenues following the acquisition of Telwater. North American outboard engine retail sales decreased on a percentage basis in the low-teens range compared with the three-month period ended October 31, 2018.
Sales of Seasonal Products, which includes Sea-Doo personal watercraft, were up 13 percent to C$63.9 million for the quarter.
The company raised the lower end of the guidance for end-of-year with Normalized EPS growth of 19 percent to 23 percent compared to last year.