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BRP Inc. profit misses consensus by 56.1% in fiscal Q3

BRP Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 was 28 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.

EPS fell 20.5% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$33.8 million, a decrease of 20.4% from C$42.5 million in the prior-year period.

The normalized profit margin fell to 3.7% from 4.9% in the year-earlier period.

Total revenue climbed 6.0% year over year to C$918.0 million from C$866.0 million, and total operating expenses climbed from the prior-year period to C$813.1 million from C$775.4 million.

Reported net income fell 24.4% year over year to C$36.9 million, or 31 cents per share, from C$48.7 million, or 41 cents per share.