PHOTO COURTESY BRP BRP reported revenues of $1.36 billion in the second quarter of fiscal year 2025, a 33.7% decrease year-over-year. Net income of $5.23 million was down $247.73 million compared with the previous year.
“Our results were in line with expectations and reflect our ongoing focus on reducing network inventory to maintain our dealer value proposition,” president and CEO José Boisjoli said in a statement. “We have made great strides on that front, but the retail environment is more challenging with the economic context pressuring consumer demand. As such, our priority is to continue to proactively manage production and inventory levels, which leads us to revise our year-end guidance.”
BRP in the second quarter released the Sea-Doo FishPro Apex PWC, Sea-Doo Switch Fish pontoon and the Alumacraft Competitor and Trophy models.
Revenues for the six months ended July 31 were $2.86 million, down from $3.84 billion a year prior. Gross profit was down 22.1% year-over-year. Net income for the three months ending July 31 was $5.3 million.
Revenues for the marine segment were down $49.87 million, a 53.2% decline for the three months ending July 31. The company said this was “mainly attributable to a lower volume sold due to high dealer inventory, softer consumer demand in the industry, and higher sales programs.”
BRP also said North American retail sales for marine products increased 35% compared with the same period a year earlier, “given a low retail volume period as basis of comparison.”
The company said it expects revenues for the third quarter to be down about $5.9 billion and that marine will be down 40% to 50%.
