The strong growth was driven by the late shipment of personal watercraft, and the introduction of the Sea-Doo Pontoon, management told investors during an earnings call on Wednesday. The company also shipped more snowmobiles than last year, and has been adding “bigger ticket” products to its offerings.
Analysts were upbeat about the results. They were “stronger than expected” and “much higher than our estimates,” said Martin Landry, analyst with St. Louis, Mo.-based Stifel Financial Corp.Article content Sales of BRP’s recreational machines surged 43 per cent, as the company overcame supply chain difficulties that had been hampering its ability to keep up with demand. The company reported net income of $141.6 million in the three months ending Oct. 31, an 11 per cent increase from the same period in 2021 that management attributed to increased production and an exchange-rate gain of $51 million.
The company said “normalized diluted” earnings per share were $3.64, also a record. BRP increased its guidance for the metric by 35 cents per share, to a range of $11.65 to $12 per share, which would represent growth of as much as 21 per cent from the previous fiscal year.This advertisement has not loaded yet, but your article continues below.
During the quarter, it wasn’t all smooth sailing for one of Canada’s best-known manufacturers. BRP endured a
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