BRP reported revenues of $1.84 billion (CAD$2.47 billion) in its fiscal 2024 third quarter, a decrease of $178 million (CAD$241.5 million) or 8.9% compared with the same period a year earlier. North American retail sales were up for SSV, ATV and snowmobiles, but were offset by lower retail numbers for personal watercraft and pontoons, resulting in relatively flat revenues for the same quarter in 2023.
“BRP delivered sound third-quarter results in the context of the current macroeconomic environment,” president and CEO José Boisjoli said in a statement. “Our team’s focus on operational excellence enabled us to improve gross margin despite reduced volumes. Our performance has led to solid retail sales growth since the beginning of the year.”
Revenues from the marine segment were down $8.9 million (CAD$12.1 million), or about 10.2%, to $78.6 million (CAD$106.7 million) for the three months ended Oct. 31. BRP said the decrease was partially offset by a favorable product mix and pricing across most product lines.
Marine sales for fiscal 2023 were $360.7 million (CAD$489.6 million) and are projected to be up about 3% in 2024. Total revenues are projected at $7.4 billion (CAD$10 billion), about a 5% increase over the previous year.
