BRP Inc. had a healthy third quarter for its fiscal 2014. The quarter, which ended Oct. 31, resulted in a record revenues of $866.0 million, an increase of 18 percent year-over-year.
“I’m proud to share with you that the year is evolving in line with our expectations,” BRP president and CEO José Boisjoli said during Thursday’s Q3 webcast.
Though strong snowmobile shipments were cited as a big contributor to the company’s Q3 success, marine segments also performed well. For the quarter, revenues from Propulsion Systems (outboard engines and Rotax) grew 9.3 percent to $89.6 million. The increase, BRP reports, was mainly due to a favorable $6 million foreign exchange rate variation. Retail sales of outboards were up in the low single digits.
In the past Evinrude has been focused mainly on the re-powering segment, which involves boaters installing the brand’s outboards on already-owned boats, but now BRP is seeing a boon in the new boat market.
“We’re actively working to be more present in the new boat segment,” Boisjoli said.
North American PWC retail sales were up in the low single digits, despite the industry being down in the low single digits, the company reported. BRP saw market share gains for the fourth consecutive season. Spark shipments to more than 20 international countries began in the fourth quarter, in time for the southern hemisphere’s summer.
Take a look at the press release from BRP.