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BRP Inc. fiscal Q1 profit falls 32.0% YOY

BRP Inc. said its normalized net income for the fiscal first quarter ended April 30 was 15 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased 40.5% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$17.6 million, a decline of 32.0% from C$25.8 million in the prior-year period.

The normalized profit margin declined to 2.3% from 3.2% in the year-earlier period.

Total revenue fell 5.7% on an annual basis to C$758.6 million from C$804.3 million, and total operating expenses came to C$732.9 million, compared with C$726.1 million in the prior-year period.

Reported net income grew 9.7% from the prior-year period to C$28.5 million, or 24 cents per share, from C$26.0 million, or 25 cents per share.