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Ski-Doo maker BRP posts higher 4Q revenue as power-sports vehicles sales increase

The Quebec company said net income for the quarter was nearly $83 million
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The Ski-Doo maker also benefitted from favourable currency rates

BRP Inc. (TSE:DOO), the maker of Ski-Doo snowmobiles, delivered higher revenue and earnings per share in the fourth quarter of 2019 thanks to an increase in power-vehicle sales over the period.

The company’s net income for the quarter was nearly $83 million, an increase of $12.7 from a year earlier. Earnings per share came in at $0.84, up $0.16 from a year ago.

Based in Valcourt, Quebec, the vehicle manufacturer also benefitted from favourable currency rates, which contributed $38 million to total revenue.

“With this strong performance and market position, we are confident to be able to deliver our guidance of $3.50 to $3.70 of Normalized EPS, a growth rate of 13% to 19%,” said President and CEO José Boisjoli. 

Shares of BRP spiked at $40.71 in Toronto before falling below yesterday’s close, to $37.02.

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