HOG - BRP Outpaced the Powersports Industry in Q2
A looming recession? Don't tell powersports vehicle manufacturer BRP (NASDAQ: DOOO) there's a recession on the horizon. All it sees is low unemployment, high consumer confidence, and a housing market in stasis, all indicators of a healthy buying market for the industry.
BRP ripped past its competitors in the second quarter, reporting a 21% jump in revenue to $252.5 million as sales of three-wheeled vehicles led by its new Can-Am Ryker surged 90% for the period. In fact, the entire year-round products division, which also includes its side-by-side all-terrain vehicles (ATVs), was up 33% for the quarter.
The three-wheeled Can-Am Ryker is bringing younger riders to the powersports vehicle maker. Image source: BRP.