BRP reports revenue decline and defers FY26 financial guidance
BRP opened a design and innovation centre in France in 2023. Photo courtesy of Flex-O (CNW Group/BRP).
Canadian firm BRP — maker of Sea-Doo watercraft and the parent company of boat brands including Manitou, Alumacraft and Quintrex — has released its financial results for the fourth quarter and full year of fiscal year 2025.
The firm reports a decline in both revenue and profits, noting that sales have been impacted by volatile conditions and ongoing uncertainty, including global tariff disputes. As a result, the firm has decided to defer providing financial guidance for fiscal year 2026.
In a statement, the company says: “This uncertainty has also had a negative impact on consumer demand, making it difficult to offer reliable projections at this time.”
The news comes amid BRP’s efforts to sell off its marine businesses, in a bid to boost near-term profitability. BRP anticipates completing the sale process in the first quarter of fiscal year 2026.
For the fourth quarter of fiscal year 2025, revenue stood at CA$2.1bn (US$1.47bn), representing a decrease of 19.7 per cent. Net loss was C$44.5m, a decrease of 114.7 per cent compared to last year. The normalised EBITDA was C$239.8m, a decrease of 44.6 per cent compared to last year.
Full-year revenue also saw a decline, reaching C$7.83bn, a decrease of 21.4 per cent compared to last year.
Despite the downturn in financial performance, the company continues to focus on product development and strategic initiatives. “We remain committed to delivering innovative products while navigating current market challenges,” says José Boisjoli, president and chief executive officer of BRP.
“BRP demonstrated its agility throughout fiscal 2025 by rapidly adapting to softer market conditions. We were the first OEM to proactively adjust shipments to reduce network inventory and we have achieved our objective. As anticipated, our leaner inventory position compared to competitors resulted in short-term market share loss but protected our dealer network and the value of our brands.
“In this volatile context, we have outpaced the off-road industry with our current models, which speaks highly about the attractiveness of our lineups,” says Boisjoli.
“Looking ahead to fiscal 2026, the ongoing global tariff disputes have created economic uncertainty, making financial projections more challenging at this time. Over the longer term, our strategic decision to double down on Powersports should allow us to solidify our industry leadership by pushing innovation further and capitalising on growth opportunities. With a product portfolio that is second-to-none, a strong dealer network and a healthy balance sheet, we are well positioned to sustain profitable growth.”
