Brp Stock Earnings Reports

BRP delivered a better-than-expected Q3 driven by shipment timing (Snowmobile) and tight expense management: revenue of $2.0B, normalized EBITDA of $264M and normalized EPS of $1.16. Management reaffirmed fiscal year guidance on a continuing-operations basis (revenues $7.6–7.8B; normalized EBITDA $1.02–1.07B; normalized EPS $4.25–4.75). The company initiated a process to sell its Marine businesses (Alumacraft, Manitou, Telwater) to refocus and invest in its core Powersports activities; management says this will materially improve the company’s financial profile. Inventory reduction is a priority and progress is notable: total dealer/network inventory down ~10% year-to-date, with ORV inventory down 22% (achieving that objective ahead of plan); target remains a 15–20% reduction by fiscal year-end and Snowmobile seasonality will be a key driver of Q4 outcomes. Market trends: North American retail down ~11% (Canada outperforming US), EMEA under pressure (-19%), Latin America strong (+21%), Asia Pacific mixed. Competitive dynamics include heavy promotional activity and high non-current inventory at other OEMs that pressured BRP’s ORV retail share this quarter; however BRP gained share in current (more profitable) units. Product and growth initiatives: Can-Am electric motorcycle launch progressing (dealer targets, production ramp in Dec, shipments start FY2026). Financial priorities: disciplined shipments to support dealer margins, continued management of programs and OpEx, NCIB renewed but buybacks will depend on macro/tariff developments and balance sheet priorities. Key risks noted: retail softness, competitor non-current promotions, trade/tariff uncertainty and timing of Snowmobile retail season.