BRP reports fiscal year 2022 second quarter results
- Revenues of $1,904 million, up 54% compared to the same period last year
- Net income of $213 million, or diluted earnings per share of $2.46
- Normalized diluted EPS[1] of $2.89, up 154% compared to the same period last year
- Normalized EBITDA[1] of $415 million, up 94% compared to the same period last year
- Returned $350 million to shareholders through Substantial Issuer Bid
- North American Powersports retail sales down 19% compared to a record quarter last year mostly explained by limited product availability in the network, and up 14% when compared to two years ago, in FY20 Q2
- Increase of annual guidance for Normalized EPS - diluted[1] now ranging from $8.25 to $9.75, a growth of 53% to 81% compared to Fiscal 21, and up from previous guidance of $7.75 to $8.50
Valcourt, Quebec, September 2, 2021 – BRP Inc. (TSX:DOO; NASDAQ:DOOO) today reported its financial results for the three- and six-month periods ended July 31, 2021. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available on Sedar as well as in the section Quarterly Reports of BRPs website.
"We delivered another record quarter, with revenues up 54% and Normalized Earnings per share up 154%. These excellent results are fueled by continued strong demand, market share gains, traction with new entrants as well as our teams ability to manage through a challenging supply chain environment, said José Boisjoli, President and CEO.
"Looking ahead, we are optimistic about the future considering continued strong demand for our products, our new and exciting product introductions and additional capacity coming online over the next few months. Based on this positive outlook and factoring in ongoing supply chain and logistics challenges we are increasing our overall guidance for Fiscal 22. Normalized EPS is now expected to grow between 53% and 81% over last year. Furthermore, we are well-positioned to build on this momentum and generate further growth in Fiscal 23 primarily driven by sustained consumer interest in powersports and the upcoming significant inventory replenishment cycle, concluded Mr. Boisjoli.
[1] See "Non-IFRS Measures section of this press release.
