BRP Inc.


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BRP Inc.:  Initiation of Coverage – 4 Pivotal Factors Driving Its Growth!


This is our first report on powersport vehicles and marine products, BRP Inc. The company’s fiscal year 2024 third quarter results conference call highlighted mixed performances across its categories of operation. Revenue reached $2.5 billion, which fell short of expectations due to softer demand in international markets and a temporary slowdown at the Texas-Mexico border. Although these conditions negatively impacted deliveries of its off-road vehicles and ETVs over three weeks, normalcy has been restored. Despite lower revenues, BRP demonstrated tight cost control, delivering normalized EBITDA of $445 million and normalized diluted EPS of $3.06, aligning closely with their expectations.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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