PHOTO COURTESY BRP BRP reported record revenues of $2.05 billion (CAD$2.8 billion) in its fiscal 2024 second quarter, an increase of 14% compared with the prior-year quarter.
BRP is the parent of Sea-Doo, Manitou, Alumacraft and Quintrex.
Normalized EBITDA of $346.2 million (CAD$473.1 million) was an increase of 13% compared with last year. North American powersports retail sales increased 41% compared with the same period last year and achieved record high market share for PWC, all-terrain vehicles and side-by-side vehicles.
“We are pleased with our performance, as BRP delivered its strongest second quarter ever with revenues and normalized EPS — diluted increases of 14% and 9%, respectively over last year,” president and CEO José Boisjoli said in a statement. “Driven by solid consumer demand, we significantly outpaced the North American powersports industry with an impressive 41% growth at retail, further increasing our market share in most product categories.”
Revenues from the marine segment were down $9.2 million (CAD$12.6 million) to $92.9 (CAD$126.9 million) for the three months ended July 31, compared with $102.08 million (CAD$139.5 million) for the corresponding quarter in the previous year. BRP said the decrease was mainly due to a lower volume of boats and parts/accessories sold as a result of longer production ramp-up related to the introduction of new product. The decrease was partially offset by higher pricing and a favorable exchange rate variation.
North American marine retail sales decreased 44% compared with the prior-year second quarter, with BRP saying it was the result of softening consumer demand and reduced availability of newly introduced product.
