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VALCOURT, QC - BRP Inc. (TSX:DOO) (NASDAQ:DOOO) reported stronger-than-expected third quarter results on Thursday, with revenue jumping 14% YoY to C$2.25 billion, driven by higher off-road vehicle (ORV) deliveries and favorable product mix.
The company’s shares edged up 0.33% in pre-market trading following the announcement.
Net income for the quarter ended October 31 surged 150% to C$76.5 million, while adjusted EPS reached C$1.59, up from C$1.20 in the same period last year. The company’s normalized EBITDA increased 21.3% to C$325.6 million.
Based on these strong results, BRP raised its full-year guidance, now expecting adjusted EPS of approximately C$5.00, up from its previous forecast. The company also projects annual revenue of around C$8.3 billion.
"Third-quarter results came in ahead of expectations with significant revenue, profitability and free cash flow increases," said José Boisjoli, President and CEO of BRP. "This strong performance was fueled by the successful introduction of new industry-leading products which drove market share gains in the SSV and ATV categories in North America."
Despite the positive financial performance, North American powersports retail sales decreased by 4% compared to the same quarter last year, primarily due to lower seasonal products sales outside the peak retail period. However, the company achieved market share gains in North America for ORV products.
Year-Round Products revenue, which represents 56% of total quarterly revenue, increased 22.1% to C$1.27 billion, while Seasonal Products revenue decreased 1.6% to C$606.2 million. Parts, Accessories & Apparel and OEM Engines revenue rose 17.8% to C$378.5 million.
The company declared a quarterly dividend of C$0.215 per share, payable on January 14, 2026, to shareholders of record as of December 31, 2025.
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