Core Insights - Kyle Chaney and his co-driver Terry Madden achieved victory in the 4400 Unlimited race at the King of the Hammers, showcasing the capabilities of the Can-Am Maverick R platform with a completion time of 7 hours, 53 minutes, and 45 seconds [2][3] - Can-Am drivers dominated the Pro Mod class in the UTV Hammers Championship race, with Cody Miller winning the Pro Mod and finishing second overall, while Nathan Parker and Paul Wolf secured second and third in Pro Mod respectively [4] Company Overview - BRP Inc. is a global leader in powersports products, with a diverse portfolio including Ski-Doo, Lynx, Sea-Doo, and Can-Am vehicles, as well as boats and propulsion systems, generating annual sales of CA$10.4 billion from over 130 countries [6]

Core Points - BRP is actively combating bullying through its Yellow Day initiative, which includes donations to anti-bullying organizations for social media engagement [1][2] - The company highlights the prevalence of bullying, stating that one in three children faces bullying at school and nearly half of professionals experience it in the workplace [2] - Since 2022, BRP has partnered with nearly 30 anti-bullying organizations globally, including the Born This Way Foundation and Ditch the Label, to support community initiatives [3] Company Overview - BRP Inc. is a global leader in powersports products, with over 80 years of experience and annual sales of CAD $10.4 billion from over 130 countries [4] - The company offers a diverse portfolio of brands, including Ski-Doo, Sea-Doo, and Can-Am, and is committed to developing electric models for its product lines [4] - BRP employs close to 20,000 people and focuses on responsible growth and consumer-centric innovation [4]

Core Insights - Can-Am, a brand of BRP Inc., achieved a second-place finish and ten stage wins in the 2025 Dakar Rally, showcasing the performance of the Maverick R platform in challenging conditions [1][11] - The team demonstrated resilience and adaptability, with notable performances from drivers such as Francisco "Chaleco" López, who secured five stage wins, and other racers who contributed to the overall success [2][3][11] Performance Highlights - Francisco "Chaleco" López led the team with five stage wins, the highest in the T4 Side-by-Side Vehicle Class, finishing with a total time of 61 hours 19 minutes and 15 seconds [1][2] - Sara Price and Jeremías González Ferioli also achieved stage wins, with Price securing three stage wins despite early race issues [4][5][6] - Rookie Hunter Miller finished in the top ten overall, demonstrating strong potential with a notable fourth-place finish on stage four [8][9][10] Vehicle Performance - The Maverick R's advanced features, including a tall-knuckle suspension design and a turbocharged three-cylinder Rotax engine, were highlighted as key factors in the team's success [11] - The vehicle's performance improved significantly after initial challenges, leading to a series of stage wins and a strong finish in the rally [3][7] Team and Management Insights - BRP Race Manager Jean-Francois Leclerc praised the team's effort and adaptability throughout the rally, emphasizing the positives to build on for future competitions [2] - The team expressed a commitment to learning from the experience and returning stronger for the next Dakar Rally [7][10]

Group 1 - The Dakar Rally is a significant event for BRP, with the introduction of the Maverick R aimed at enhancing performance and meeting FIA regulations [1][2] - The 2025 Dakar Rally will be the first FIA-sanctioned race for the Can-Am Maverick R, which has already shown success in other desert races [1][2] - Can-Am and South Racing have achieved six consecutive Dakar Rally wins since 2018, all with the Maverick X3 platform, marking a transition to the new Maverick R platform for future competitions [2] Group 2 - The 2025 Dakar Rally will take place over 12 days and cover 8000 kilometers, starting on January 3, 2025, in Bisha, Saudi Arabia, and concluding on January 17, 2025, in Shubaytah [3] - BRP Inc. is a global leader in powersports products with annual sales of CA$10.4 billion and a workforce of nearly 20,000 employees [4]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 reached $1.8 billion, with normalized EBITDA at $199 million and normalized EPS at $0.61, generally in line with expectations [4][16] - Network inventory was reduced by 13% year-to-date, progressing towards a target reduction of 15% to 20% by the end of fiscal 2025 [4][18] - Gross profit was $377 million, representing a margin of 20.4%, down from the previous year due to lower production volumes and higher sales programs [16] Business Line Data and Key Metrics Changes - North American Powersports sales declined by 18% compared to a strong Q2 last year, reflecting weaker consumer demand [4][6] - Retail performance was down 10% across North America, EMEA, and Asia Pacific, while Latin America saw an 18% increase driven by strong sales in Mexico and Brazil [6][11] - Year-round product revenue decreased by 33% to $1 billion, primarily due to reduced shipments, with Can-Am side-by-side sales down in the high single digits [11][13] Market Data and Key Metrics Changes - The overall retail market in North America is expected to decline mid to high single digits for ORV, low to mid-teens for snowmobiles, and slightly above 20% for watercraft and three-wheel vehicles [23][27] - The company gained market share in the ORV segment, with record retail performance up 8% in a flat industry, and a 2-point increase in side-by-side vehicle market share [7][19] Company Strategy and Development Direction - The company is focused on reducing network inventory to support dealers amid a challenging economic environment and high interest rates [3][18] - Recent product launches, including the Can-Am Pulse and Origin electric motorcycles, signify a strategic re-entry into the two-wheel market, aiming to become a global leader in this space [8][10] - The company plans to continue investing in R&D and innovation to maintain dealer relationships and brand value [21][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the macroeconomic pressures affecting consumer demand and the need for cautious planning for the second half of the year [3][19] - The company expects a sequential improvement in Q3 for revenue, normalized EBITDA, and normalized EPS, despite the overall challenging environment [20][21] - Management remains optimistic about long-term growth potential, emphasizing the importance of supporting dealers and maintaining a strong product lineup [21][41] Other Important Information - The company has adjusted its guidance for the year, expecting revenues between $7.8 billion and $8 billion, normalized EBITDA between $890 million and $940 million, and normalized EPS between $275 million and $325 million [19][20] - The promotional environment remains high, with expectations for continued promotional activities into the next year [38][62] Q&A Session Summary Question: How does the company know it has cut enough inventory? - Management indicated that they are monitoring retail trends and adjusting their approach based on observed declines in consumer demand [23][24] Question: What are the revised expectations for industry sales in North America? - The company expects ORV sales to decline mid to high single digits, snowmobiles down low to mid-teens, and watercraft and three-wheel vehicles down slightly above 20% [27][29] Question: What is the company's outlook for fiscal year 2026? - Management stated it is too early to provide specific guidance for fiscal year 2026 due to ongoing macroeconomic uncertainties [59][60] Question: How does the company plan to manage operating expenses moving forward? - The company plans to maintain relatively flat operating expenses while focusing on cost improvement initiatives and efficiency [63][65]

QUARTERLY REVIEW SECOND QUARTER ENDED JULY 31, 2024 Forward-Looking Statements Caution concerning forward-looking statements Certain statements included in this presentation, including, but not limited to those relating to the Company's Fiscal Year 2025, including its updated financial guidance (including revenues, Normalized EBITDA, Effective Tax Rate, Normalized earnings per share, net income, depreciation expense, net financing costs adjusted, weighted average of the number of shares diluted and capital ...

About BRP At the meeting, all of the nominees for directors listed in the Company's management proxy circular dated April 25, 2024, were elected by a majority of the votes cast by shareholders present or represented by proxy. Voting results for each nominee were as follows: | Nominee | Votes | % | | Votes | % | | | --- | --- | --- | --- | --- | --- | --- | | | For | | | Against | | | | Élaine Beaudoin | 258,943,482 | 99.39 | % | 1,581,398 | 0.61 | % | | Pierre Beaudoin | 247,697,652 | 95.08 | % | 12,827,228 ...

As such, we expect to have the financial flexibility to continue providing a strong return of capital to shareholders. Before turning the call over to Jose, I would like to provide further color on the adjustments we made to the guidance by taking a look at Slide 15. Operator Thank you, sir. [Operator Instructions] And your first question will be from Craig Kennison at Baird. Please go ahead. Craig Kennison Hey, good morning. Thanks for taking my question. You talked about inventory. I'm wondering if you co ...

BRP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS FOR THE THREE-MONTH PERIOD ENDED APRIL 30, 2024 Table of contents Exhibit 99.2 | Glossary | 2 | | --- | --- | | Basis of Presentation | 3 | | Forward-Looking Statements and Non-IFRS Measures | 3 | | Business Overview | 5 | | Reporting Segments | 5 | | Factors Affecting the Company's Results of Operations | 6 | | Executive Summary | 9 | | Retail Performance & Market Statistics | 10 | | Results of Operations | 11 | | Analysis of Segment Results for First Quarter o ...

VALCOURT, QC, May 9, 2024 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will hold its first quarter FY2025 financial results conference call on Friday, May 31, 2024, followed by its Annual Meeting of Shareholders ("the Meeting") conducted by live webcast. José Boisjoli, President and Chief Executive Officer, and Sébastien Martel, Chief Financial Officer, will present the results of the first quarter of FY2025 and address questions from analysts on a conference call at 9 a.m. Eastern Daylight Time (EDT). ...