BRP has continued to see softer consumer demand, exacerbated by uncertainty surrounding changes to global tariffs and trades regulations.
The company has continued to focus on reducing network inventory levels on its Seasonal Products and the industry slowdown on Year-Round Products.
The company’s financial results for the three-month period ended April 30 2025 show the volume of shipments and revenues has decreased compared to the same period in 2024.
During the quarter, BRP had revenues of Canadian $1,846.9 million, a decrease of 7.7% compared to 2024.
The company had a net income of $161 million, an increase of 278.8% compared to last year and a normalised EBITDA of $200.8 million, a decrease of 34.7% compared to 2024.
North American retail sales were flat compared to last year.
We delivered a sound first-quarter performance despite the current context.
José Boisjoli
“We delivered a sound first-quarter performance despite the current context, with results in line with expectations,” said José Boisjoli, president and CEO of BRP.
“Looking ahead, given the uncertainty, we are still refraining from making financial projections at this time. In the short-term, although demand remains soft due to a challenging macro environment, our strong product portfolio and leaner inventory levels position us favourably for a rebound.”
The company’s latest financial report states the decrease in the volume of shipments, the higher sales programs due to the sustained promotional environment and the decreased leverage of fixed costs have led to a decrease in the gross profit and gross profit margin compared to the same period last year.
The decrease was partially offset by production efficiencies.
Revenues
Revenues of Year-Round Products , which made up 60% of Q1-FY26 revenues, decreased by $52 million, (4.5%), to $1,105.8 million for the three-month period ended April 30 2025, compared to $1,157.8 million for the same period ended April 30 2024.
Revenues from Seasonal Products – 23% of Q1-FY26 revenues – decreased by $115.9 million, (21.7%), to $419.2 million compared to $535.1 million for the same period in 2024.
And revenues from PA&A and OEM Engines – 17% of Q1-FY26 revenues – increased by $14.9 million, (4.9%), to $321.9 million for the period, compared to $307 million in 2024.
During the financial quarter period, BRP announced a definitive agreement to sell Telwater Pty, Ltd, and closed the sale of Alumacraft’s assets on May 1 2025.
