DOO BRP Inc.
Price Chart
Executive Summary
BRP reported Q1 FY27 revenue of $2,391.8M (+29.5% YoY) and normalized diluted EPS of $1.83, well above the prior year's $0.47. However, GAAP net income fell 20.9% to $127.3M due to FX losses on USD debt and higher taxes. The company issued revised FY27 guidance incorporating tariff costs, projecting normalized diluted EPS of $3.00-$3.50, down sharply from FY26's $5.21. North American retail sales declined 7% YoY.
Actionable Insight
The massive FY27 guidance cut (normalized EPS -38% YoY) due to tariff costs overwhelms the strong Q1 beat. Retail sales declining 7% despite revenue growth from channel stuffing suggests demand weakness. Monitor Q2 results for tariff impact realization and retail sales trajectory.
Key Facts
- Q1 FY27 revenue $2,391.8M, +29.5% YoY
- GAAP net income $127.3M, -20.9% YoY
- Normalized diluted EPS $1.83 vs $0.47 YoY
- North American retail sales -7% YoY
- FY27 guidance: normalized diluted EPS $3.00-$3.50 vs FY26 $5.21
- FY27 normalized EBITDA guidance $925-$975M vs FY26 $1,103.4M
- Q2 FY27 normalized diluted EPS expected down ~$1.60-$1.65 YoY
- Quarterly dividend maintained at $0.25/share
Financial Impact
FY27 normalized diluted EPS guidance midpoint of $3.25 represents a 37.6% decline from FY26's $5.21. Q2 EPS expected down ~$1.60-$1.65 YoY.
Risk Factors
- Tariff escalation beyond current assumptions could further pressure margins
- Retail sales declining while wholesale shipments rise risks dealer inventory build
- Seasonal product retail sales down low-thirties % signals weak snowmobile/PWC demand
- FY27 normalized EBITDA guidance implies H2 margins significantly below Q1 run-rate
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-242972 |
| Document: d144726d6k.htm | 0001193125-26-242972 |
| Document: 0001193125-26-242972-index-headers.html | 0001193125-26-242972 |
| Document: 0001193125-26-242972-index.html | 0001193125-26-242972 |
| Document: 0001193125-26-242972.txt | 0001193125-26-242972 |
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Jun 11, 2026
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Institutional Cluster
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