Latest news with #JoséBoisjoli
Yahoo
6 days ago
- Business
- Yahoo
Ski-Doo maker BRP books near 300% profit jump, boosts estimate for tariff hit up to $70M this year
Ski-Doo and Sea-Doo maker BRP ( shares rose to their highest level since March as the company reported a nearly 300 per cent year-over-year jump in profit. However, the Canadian powersports manufacturer also increased its estimated hit from U.S. tariffs to between $60 million and $70 million this fiscal year, while warning about challenging demand from consumers. Valcourt, Que.-based BRP reported that first-quarter profit hit $161 million, up from $42.5 million the prior year. Sales for the three months ended April 30 rose slightly on an annualized basis to $1.8 billion. 'The operating environment remains challenging, with significant macroeconomic uncertainty and a volatile tariff situation affecting consumer confidence,' chief executive officer José Boisjoli told analysts on a post-earnings conference call. BRP on Thursday morning announced Boisjoli will retire at the end of the year. 'As uncertainty is expected to continue affecting consumer confidence, we are planning for demand to remain tough until economic conditions improve,' he added. BRP manufactures products in Canada and Mexico. The company says all of its vehicles are compliant with the United States-Mexico-Canada Agreement, and are thus exempt from the bulk of American tariffs. 'However, we have seen incremental tariffs stemming from the U.S. tariff rate increase on China, the new tariffs on other countries; these are primarily impacting our [parts and accessories] business and some of our U.S. suppliers, which in turn is impacting us,' Boisjoli said. 'We now estimate that the total gross tariff impact to our business for fiscal 2026 to be between $60 million and $70 million,' he added. 'We expect this impact to be manageable, as we should be able to offset most of the incremental cost using different levers across our value chain.' In March, Boisjoli estimated a $40 million impact from tariffs throughout the year. Toronto-listed shares gained 9.79 per cent to $54.57 as at 10:23 a.m. ET on Thursday, after rising as much as 13 per cent in earlier trading. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
7 days ago
- Business
- CTV News
BRP says Q1 profit up as company reveals CEO José Boisjoli to retire soon
Signage is seen on the offices of Bombardier Recreational Products Inc. (BRP) in Montreal, Monday, March 24, 2025. THE CANADIAN PRESS/Christinne Muschi VALCOURT — BRP Inc. says its latest quarter delivered a soaring profit but revenue ticked lower over the same period. The Ski-Doo and Sea-Doo maker says its first-quarter profit amounted to $161 million or $2.19 per diluted share for the quarter ended April 30. The result compared with a profit of $42.5 million or 56 cents per diluted share a year earlier. Revenue for the quarter totalled $1.8 billion compared with just shy of $2 billion a year prior. On a normalized basis, BRP says it earned 47 cents per diluted share in its latest quarter compared with a normalized profit of $1.58 per diluted share a year ago. The results were released the same day as BRP revealed president and CEO José Boisjoli will retire at the end of the fiscal year. He spent 22 years in the top job of the Valcourt, Que.-based company, which is searching for his successor. This report by The Canadian Press was first published May 29, 2025.
Hamilton Spectator
7 days ago
- Business
- Hamilton Spectator
BRP says Q1 profit up as company reveals CEO José Boisjoli to retire soon
VALCOURT - BRP Inc. says its latest quarter delivered a soaring profit but revenue ticked lower over the same period. The Ski-Doo and Sea-Doo maker says its first-quarter profit amounted to $161 million or $2.19 per diluted share for the quarter ended April 30. The result compared with a profit of $42.5 million or 56 cents per diluted share a year earlier. Revenue for the quarter totalled $1.8 billion compared with just shy of $2 billion a year prior. On a normalized basis, BRP says it earned 47 cents per diluted share in its latest quarter compared with a normalized profit of $1.58 per diluted share a year ago. The results were released the same day as BRP revealed president and CEO José Boisjoli will retire at the end of the fiscal year. He spent 22 years in the top job of the Valcourt, Que.-based company, which is searching for his successor. This report by The Canadian Press was first published May 29, 2025. Companies in this story: (TSX:DOO)
Winnipeg Free Press
7 days ago
- Business
- Winnipeg Free Press
BRP says Q1 profit up as company reveals CEO José Boisjoli to retire soon
VALCOURT – BRP Inc. says its latest quarter delivered a soaring profit but revenue ticked lower over the same period. The Ski-Doo and Sea-Doo maker says its first-quarter profit amounted to $161 million or $2.19 per diluted share for the quarter ended April 30. The result compared with a profit of $42.5 million or 56 cents per diluted share a year earlier. Revenue for the quarter totalled $1.8 billion compared with just shy of $2 billion a year prior. On a normalized basis, BRP says it earned 47 cents per diluted share in its latest quarter compared with a normalized profit of $1.58 per diluted share a year ago. The results were released the same day as BRP revealed president and CEO José Boisjoli will retire at the end of the fiscal year. He spent 22 years in the top job of the Valcourt, Que.-based company, which is searching for his successor. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published May 29, 2025. Companies in this story: (TSX:DOO)
Yahoo
7 days ago
- Business
- Yahoo
BRP says Q1 profit up as company reveals CEO José Boisjoli to retire soon
VALCOURT — BRP Inc. says its latest quarter delivered a soaring profit but revenue ticked lower over the same period. The Ski-Doo and Sea-Doo maker says its first-quarter profit amounted to $161 million or $2.19 per diluted share for the quarter ended April 30. The result compared with a profit of $42.5 million or 56 cents per diluted share a year earlier. Revenue for the quarter totalled $1.8 billion compared with just shy of $2 billion a year prior. On a normalized basis, BRP says it earned 47 cents per diluted share in its latest quarter compared with a normalized profit of $1.58 per diluted share a year ago. The results were released the same day as BRP revealed president and CEO José Boisjoli will retire at the end of the fiscal year. He spent 22 years in the top job of the Valcourt, Que.-based company, which is searching for his successor. This report by The Canadian Press was first published May 29, 2025. Companies in this story: (TSX:DOO) The Canadian Press Sign in to access your portfolio
