💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-Ski-Doo snowmobile maker BRP posts better-than-expected profit

Published 2016-12-09, 06:38 a/m
© Reuters.  UPDATE 1-Ski-Doo snowmobile maker BRP posts better-than-expected profit
DOO
-

(Compares results with estimates, adds details)

Dec 9 (Reuters) - Canada's BRP Inc DOO.TO , the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, reported a better-than-expected quarterly profit as it sold more year-round products.

The company also raised its current-year adjusted earnings forecast to C$1.86-C$1.96 per share, from C$1.82-C$1.92.

BRP, which has operations and clientele across the Americas and Europe, also raised its revenue growth forecast for the year ending January to 5-9 percent from 4-8 percent.

The company's revenue from year-round products, which includes recreational vehicles, rose 47.6 percent in the third quarter, from a year earlier.

The company's net profit attributable to shareholders rose 20 percent to C$78.7 million ($59.8 million), or 70 Canadian cents per share, in the quarter ended Oct. 31 from a year earlier. company, which sells in more than 100 countries, reported adjusted earnings of 93 Canadian cents per share. Analysts on average had expected 75 Canadian cents, according to Thomson Reuters I/B/E/S.

Valcourt, Quebec-based BRP's revenue rose about 7 percent to C$1.08 billion, beating the average analyst estimate of C$1.04 billion. ($1 = C$1.32)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.