.jpg)
59 minutes ago
2
Article content
BRP Inc. is raising its full-year guidance despite tariff impact on its quarterly gross profit and its anticipated lower diluted earnings per share in the upcoming quarter due to increased tariff impact.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
The maker of Ski-Doo snowmobile released its second quarter results on Thursday, reporting an 18.5 per cent increase in revenues to $2.24 billion compared to last year, primarily driven by higher Off-Road Vehicles (ORV) shipments to support retail demand.
Article content
Article content
Article content
“Given our strong performance in ORV leading to additional market share gains, and reduced net tariff costs, we are raising our full-year guidance,” said chief executive Denis Le Vot, noting that the second-quarter financial results exceeded company expectations. “Looking ahead, we remain focused on navigating through the volatile geopolitical and trade environment and advancing our long-term growth prospects.”
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The company reported a net loss of $136.8 million, down $193.9 million from a net income of $57.1 million in the previous year. It also reported $262.5 million in gross profit, a 34-per-cent drop from the prior year.
Article content
It said the drop in gross profit and gross profit margin was primarily due to the impacts of Section 232 tariffs on steel, aluminum and copper imports into the United States, as well as the effect of a supplier financial restructuring. The decrease in gross profit also includes a favourable foreign exchange rate variation of $17 million.
Article content
BRP announced on Thursday that chief financial officer Sébastien Martel will retire from his role, effective Oct. 1, and be succeeded by Minh Thanh Tran. Martel will remain with the company as executive adviser to the CEO to help with the financial leadership transition until his retirement in April 2027. The company said Tran’s appointment is part of a long-planned succession strategy.
Article content
Article content
We apologize, but this video has failed to load.
Article content
English (US)