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). ...

PALM BEACH, Fla., May 22, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The global Recreational Vehicle Battery market is projected to grow at a significant growth rate due to several driving factors. According to a report from Market Research Intellect (MRI), the global Recreational Vehicle Battery Market size in terms of revenue is expected to continue to grow additional billions of dollars in revenues and in a CAGR through 2031. MRI said: "Market Research Intellect anticipates a promising gro ...

About KULR Technology Group Inc. KULR Technology Group Inc. (NYSE American: KULR) is a leading energy management platform company offering proven solutions that play a critical role in accelerating the electrification of the circular economy. Leveraging a foundation in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems, KULR has evolved its holistic suite of products and services to enable its customers across discipline ...

VALCOURT, Quebec, April 15, 2024 (GLOBE NEWSWIRE) -- BRP Inc. (TSX:DOO, NASDAQ:DOOO) ("BRP" or the "Company") announced today that Bain Capital Integral Investors II, L.P. ("Bain" or the "Selling Shareholder"), and the Company have entered into an agreement with BMO Capital Markets to complete a secondary offering on a bought deal basis (the "Offering"). Under the agreement, BMO Capital Markets has agreed to purchase 1,500,000 subordinate voting shares of the Company (the "Subordinate Voting Shares") at a p ...

BRP Inc. (NASDAQ:DOOO) Q4 2024 Earnings Call Transcript March 28, 2024 9:00 AM ET Company Participants Philippe Deschenes - Director of Investor Relations Jose Boisjoli - President & Chief Executive Officer Sebastien Martel - Chief Financial Officer Conference Call Participants Sabahat Khan - RBC Capital Markets James Hardiman - Citi Martin Landry - Stifel Robin Farley - UBS Cameron Doerksen - National Bank Financial Craig Kennison - Baird Xian Siew - BNP Paribas Tristan Thomas-Martin - BMO Capital Markets ...