2023-03-23 06:47:18 ET
BRP Inc. ( NASDAQ: DOOO ) beat Q4 earnings expectations and offered an optimistic guide for fiscal year 2024 on Thursday.
The Sea-Doo manufacturer notched non-GAAP EPS of C$3.85 for the fourth quarter, above the C$3.75 consensus estimate. Meanwhile, a 31.1% jump in revenue to C$3.08B exceeded the Street consensus of C$2.99B. Powersports was noted as a particular area of strength, jumping 21.8% from the prior year quarter to $378.3M
“We are proud of our outstanding fourth quarter retail performance as we significantly outpaced the Powersports industry and concluded the year with an exceptional 5 percentage points market share increase over the previous year in North America,” CEO José Boisjoli said. “Heading into fiscal 2024, despite macro concerns, we expect to continue our growth and deliver Normalized EPS between C$12.25 and C$12.75.”
The Canadian powersports product producer also projects revenues to grow 9% to 12% year over year. Analysts had anticipated about C$9.06 in earnings and revenue growth of 7.54%.
Shares of the Quebec-based manufacturer rose modestly in premarket trading after the print .
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BRP tops earnings expectations, offers upbeat guidance