BRP Q1 Revenue Up 29.5% to C$2.39B, Revises FY27 Guidance
DOO•BRP’s Q1 revenues rose 29.5% to C$2.392 billion, driven by higher ORV and PWC shipments, while normalized EBITDA jumped 66.5% to C$334.4 million despite net income falling 20.9% to C$127.3 million. The company set FY27 revenue guidance at C$9.125–9.375 billion and trimmed normalized EPS forecast to C$3.00–3.50 factoring in tariff costs.
1. Q1 Financial Performance
BRP delivered first quarter revenues of C$2,391.8 million, up 29.5% year-over-year, with normalized EBITDA of C$334.4 million, a 66.5% increase, while net income declined 20.9% to C$127.3 million and diluted EPS fell to C$1.73 from C$2.19.
2. Operational Drivers
Revenue growth was driven by higher off-road vehicle (ORV) and personal watercraft (PWC) shipments and a favourable ORV product mix; North American retail powersports sales fell 7%, weighed down by lower snowmobile volumes but offset by ORV market share gains.
3. Tariff Impact and Mitigation
During the quarter significant tariff policy shifts prompted the company to implement mitigation measures, yet global tariffs and a higher effective tax rate of ~25% partially offset margin gains despite disciplined cost management.
4. FY27 Guidance Revision
BRP raised full-year revenue guidance to C$9.125–9.375 billion, lowered normalized EPS forecast to C$3.00–3.50, and projected normalized EBITDA of C$925–975 million, while planning approximately C$390 million in capital expenditures and ~C$180 million in financing costs.
