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Brp Inc Down 1.14% To $70.80 After Earnings Beat

Thursday, June 01, 2023 11:46 AM | InvestorsObserver Analysts

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Brp Inc Down 1.14% To $70.80 After Earnings Beat

Brp Inc (DOOO) said before open Thursday that it earned $1.76 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.8 billion, beating estimates by $134 million.

In the same quarter a year ago, the company earned $1.31 per share on revenue of $1.4 billion.

The stock is down 1.14% to $70.80 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Brp Inc has performed a little below average during the past few months. Before the report, Brp Inc received a Long-Term Technical Rank by InvestorsObserver of 36, putting it in the bottom half of stocks. The firm set a 52-week high on February 2, 2023 at $90.42 and set a 52-week low on October 21, 2022 at $58.71.

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after discontinuing the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers. In 2018, BRP created a marine group, acquiring boat manufacturers Alumacraft, Triton (which makes Manitou pontoon boats), and Telwater (in Australia). At the end of fiscal 2022, the company marketed its products through a network of more than 2,800 independent dealers and 170 distributors in about 120 countries.

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