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BRP reports $127.7M Q3 profit as supply chain disruptions hurt revenue

Canadian Press - Wed Dec 1, 2021

VALCOURT, Que. — BRP Inc. beat expectations as it reported a third-quarter profit of $127.7 million amid supply chain disruptions that caused a drop in product deliveries.

The maker of Ski-Doos and Sea-Doos says its profit amounted to $1.53 per diluted share for the quarter ended Oct. 31, down from a profit of $198.7 million or $2.22 per diluted in the same quarter last year. Revenue totalled $1.6 billion, down from $1.7 billion.

BRP says its normalized earnings per share amounted to $1.48, down from $2.13 a year ago.

Analysts on average had expected an adjusted profit of $1.33 per share, according to financial markets data firm Refinitiv.

In its outlook, BRP says it now expects normalized earnings per diluted share between $9 and $9.75 for its full financial year, compared with its earlier expectations for a result between $8.25 and $9.75.

The company says revenue growth for the year is now expected to be between 25 and 30 per cent, compared with earlier guidance for growth between 27 and 35 per cent.

This report by The Canadian Press was first published Dec. 1, 2021.

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