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BRP earnings drop amid softer consumer demand

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BRP Inc. saw earnings plunge across all product lines amid dropping demand last quarter, capping off a tough year for the recreational vehicle manufacturer. Net income at the maker of Ski-Doos and Sea-Doos fell 70 per cent year-over-year to $27.

BRP Inc. saw earnings plunge across all product lines amid dropping demand last quarter, capping off a tough year for the recreational vehicle manufacturer.

Revenue for BRP's third quarter totalled $1.96 billion, down 17 per cent from $2.37 billion a year earlier. After an urge for outdoor activity sparked a sales boom during the COVID-19 pandemic, buyers responded to inflation and interest rate hikes by pulling back from pricey recreational purchases.Last month, the company laid off more than 120 employees in its home province of Quebec. The cuts followed some 1,150 layoffs across North America earlier this year, leaving it with roughly 20,000 workers globally.

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