BRP EvinrudeSea-Doo PWC manufacturer BRP reported third-quarter revenues of CAD$2.7 billion (about US$2 billion), a 71% increase compared with the same period last year. In a statement, BRP said it was a “record performance for a single quarter.”
“BRP delivered record fiscal 2023 third quarter results, well ahead of expectations, driven by our team’s solid execution and operational discipline,” said president and CEO José Boisjoli. “Our strong product lineups, additional production capacity and proactive approach to navigating supply-chain challenges with the support of our suppliers and dealers were key factors in achieving exceptional retail growth of 43% for powersports in North America.”
Revenues for the marine segment decreased 12.8%, to CAD$118.8 million ($88.3 million), for the quarter, compared with CAD$136.3 million ($101.3 million) for the year-prior quarter. The decrease was primarily due to a lower volume of units sold because of supply-chain disruptions and a cybersecurity incident that delayed new-product introductions.
North American marine retail sales decreased 47% compared with the same quarter last year.
Normalized EBITDA of CAD$488 million ($362.8) was up 94% compared with the same time period in 2021. Normalized diluted EPS of CAD$3.64 ($2.71) was an increase of CAD$2.16 ($1.61) per share, or 146%.
