Key Takeaways:
- Revenue rose 29.5% to $2.39B on higher ORV and PWC shipments.
- Normalized EBITDA surged 66.5% to $334.4M; net income fell 20.9%.
- FY2027 guidance revised to $9.1-$9.4B revenue, incorporating tariff costs.
Key Takeaways:

BRP Inc. reported Q1 revenue of $2.39 billion, up 29.5% from a year earlier, as higher shipments of off-road vehicles and personal watercraft drove sales.
Revenue growth was driven by higher ORV and PWC shipments and favorable ORV product mix, the Valcourt, Quebec-based company said Thursday. Normalized EBITDA surged 66.5% to $334.4 million, while normalized diluted earnings per share rose to $1.83 from $0.47 a year earlier.
Net income fell 20.9% to $127.3 million, and diluted EPS dropped to $1.73 from $2.19, reflecting higher costs including tariff-related expenses. North American powersports retail sales declined 7% year over year, mainly due to a strong end-of-season in snowmobile last year, though BRP gained market share in ORV in the region.
The company revised its full-year guidance to account for incremental tariff costs net of mitigation measures, projecting revenue of $9.1 billion to $9.4 billion and normalized diluted EPS of $3.00 to $3.50. The revised outlook reflects the impact of US tariffs on BRP's manufacturing supply chain, which spans facilities in Canada, the US, Mexico, Finland and Austria.
BRP competes with Polaris Inc. and Textron Inc. in the powersports market. The revised guidance implies normalized EPS at the midpoint of $3.25, below the $3.50 analysts had expected before tariff headwinds emerged, according to data compiled by Bloomberg.
The guidance revision signals management expects tariff costs to persist through the fiscal year. Investors will watch the company's next quarterly report for updates on mitigation efforts and retail demand trends heading into the peak summer selling season.
This article is for informational purposes only and does not constitute investment advice.