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BRP Inc. fiscal Q2 loss narrows YOY

BRP Inc. said its normalized net income for the fiscal second quarter ended July 31 was a loss of 3 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

The per-share loss decreased 63.8% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$3.5 million, compared with a loss of C$9.2 million in the year-earlier period.

The normalized profit margin rose to negative 0.5% from negative 1.5% in the year-earlier period.

Total revenue rose 25.6% year over year to C$780.0 million from C$620.9 million, and total operating expenses grew 29.9% year over year to C$776.2 million from C$597.4 million.

Reported net income totaled a loss of C$3.6 million, or a loss of 3 cents per share, compared to a loss of C$7.8 million, or a loss of 7 cents per share, in the prior-year period.