BRP Inc

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• Update On BRP Q1; National Bank On First Look Leaves Rating, Price Target Unchanged, from 23 minutes ago by MT Newswires

  23 minutes ago by MT Newswires
  Companies Mentioned: DOO
  10:18 AM EDT, 05/31/2024 (MT Newswires) -- BRP (DOO.TO) on Friday reported a drop in first-quarter profit and revenue amid a decline in shipment volumes as the company focused on reducing network inventory levels. The Canadian manufacturer of snowmo...

• DJ BRP's Inventory Moves Aim To Protect Dealers, Increase Market Share -- Market Talk, from 56 minutes ago by Dow Jones

  56 minutes ago by Dow Jones
  Companies Mentioned: DOO, DOOO
  
  0945 ET - BRP thinks its inventory management changes will help dealers be more profitable and win market share. On an earnings call, CEO Jose Boisjoli says "we are convinced that lowering inventory will increase dealer profitability." This comes simultaneously with an increase in promotional activity which the company expects will help it gain market share in its core segments, such as marine crafts. "We are sure it's the right thing to do for the long-term success of the business," Boisjoli says. (adriano.marchese@wsj.com)
  

• DJ BRP Says Majority Of Retail Sales Are Latest Models -- Market Talk, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: DOO, DOOO
  
  0941 ET - BRP CEO Jose Boisjoli says current inventory stock is healthy. On an earnings call, the leader of the Canadian leisure-craft manufacturer of snowmobiles and side-by-side vehicles says that less than 1% of inventory is model 2023 or older. He noted that 65% of current retail sales are for its current inventory, adding that current levels are healthy and "in line with the industry." (adriano.marchese@wsj.com)
  

• DJ BRP Sees Performance Challenges in Transitional FY25 -- Market Talk, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: DOO, DOOO
  
  0939 ET - BRP is adjusting its inventory in the face of headwinds, and this is expected to hit earnings in fiscal 2025. "Our objective is to gradually decrease our inventory," CFO Sebastien Martel said in an earnings call, noting that the company made the decision to keep inventory lower to adjust for higher interest rate environment and higher levels of competition in the industry. The executive said that it is target to reduce its inventory by 15% to 20% end of fiscal 2025, which will include lowering its shipment volumes. "Fiscal 2025 will be a transition year as we look to support our dealers," Martel said. (adriano.marchese@wsj.com)
  

• DJ BRP Guidance Will Likely Weigh On Shares, Sentiment -- Market Talk, from 1 hour ago by Dow Jones

  1 hour ago by Dow Jones
  Companies Mentioned: DOO, DOOO
  
  0936 ET - While BRP's 1Q Ebitda was in line with the Street, guidance full-year guidance was lowered 10% at the midpoint, according to Scotiabank. Analyst Jonathan Goldman says the leisure-craft manufacturer decided to further adjust production to manage network inventory to better control dealer profitability which is under more pressure than previously anticipated due to a more competitive landscape and higher rates. He thinks shares will likely come under pressure "given the magnitude of the revision, but also the timing," since previously management had said that "industry promo was manageable and the financial health of the dealer network was very strong." (adriano.marchese@wsj.com)