If you only followed Polaris' and Arctic Cat's financial goings on over the past year, it'd paint a doomy, gloomy picture for the powersports industry. And that'd be fair because, due to a cascade of socioeconomic reasons, from post-COVID clarity and simply having a snowless winter, the market has been against powersports manufacturers. So how then has BRP managed to double its profit since this time last year?
The Valcourt, Que.-based manufacturer that owns the likes of Can-Am, Ski-Doo, and Sea-Doo, to name a few, continued to beat industry dips and swerves along with a reduction in dealership orders, particularly during the last sales quarter, when the brand boosted its third-quarter profits by 150% year-over-year to $76.5 million.
BRP's revenue increased by 14% to 2.25 billion during the same quarter, and raised its revenue forecast for the year to $8.3 billion against its earlier projections of $8.15 billion to $8.30 billion. The company's CEO, José Boisjoli, puts the brand's success down to listening to what the consumers want and—spoiler alert—it's not super expensive side-by-sides.
