Canadian Ski-Doo and Sea-Doo maker BRP Inc. (DOO) has reported a fourth-quarter profit of $365.1 million, up 74% from $209.6 million a year earlier.
Valcourt, Quebec-based BRP, which is the holding company of Bombardier Recreational Products, said its profit increase resulted from a 31% surge in its Q4 revenue.
Revenue in the fourth quarter of the company's 2023 fiscal year totalled $3.08 billion, a record high.
The company’s profit amounted to $4.54 per share for the quarter ended January 31 of this year, up from $2.50 a share a year ago.
Looking ahead, BRP said it expects revenue for its 2024 fiscal year to grow in a range of 9% to 12%.
The company added that it expects earnings per share (EPS) for fiscal 2024 in a range of $12.25 to $12.75, an increase of 2% to 6%.
BRP’s stock has gained 19% in the last 12 months to trade at $105 per share.
