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BRP reports Q2 profit and revenue down from year ago, cuts guidance for full year
VALCOURT, Que. — BRP Inc. reported its second-quarter profit and revenue fell compared with a year ago and cut its guidance for the year as it said it faced a challenging retail environment.
The maker of Ski-Doo snowmobiles and Sea-Doo watercraft says it earned $7.2 million or nine cents per diluted share for the quarter ended July 31, down from a profit of $338.7 million or $4.26 per diluted share a year earlier.
Revenue in the quarter totalled $1.84 billion, down from $2.78 billion in the same quarter last year.
On a normalized basis, BRP says it earned 61 cents per diluted share in its latest quarter, down from a normalized profit of $3.21 per diluted share a year ago.
In its outlook, BRP says it now expects revenue for the year to total between $7.8 billion and $8.0 billion, down from earlier guidance for between $8.6 billion and $8.9 billion.
The company also says it now expects its normalized earnings per diluted share to come in between $2.75 and $3.25 for the year, down from earlier guidance for between $6.00 and $7.00.
This report by The Canadian Press was first published Sept. 6, 2024.
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