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Benzinga
Benzinga
Business
Shivani Kumaresan

Why Are BRP Shares Trading Higher Today

DOOO BRP Group BRP Inc Nasdaq
  • BRP Inc (NASDAQ:DOOO) reported fourth-quarter FY22 sales growth of 29.3% year-on-year, to C$2.35 billion.
  • The gross profit for the quarter rose 21.4% Y/Y to C$609.5 million, and the gross margin contracted 170 basis points to 26%.
  • Normalized EBITDA increased 33% Y/Y to C$416.4 million.
  • EPS of C$2.50 improved from C$2.95 last year. Normalized EPS was C$3.00 versus C$1.82 in the year-ago quarter.
  • The company's Board declared a quarterly dividend of C$0.16 per share for holders of its multiple voting shares and subordinate voting shares. 
  • Outlook: BRP Group sees FY23 sales growth of 24% - 29%. The company expects FY23 normalized EPS of C$10.75 - C$11.10.
  • Price Action: DOOO shares are trading higher by 10% at $77.90 on the last check Friday.
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