By Adriano Marchese
BRP Inc. said Friday that it now expects adjusted earnings to be slightly higher in fiscal 2023 but said that continued supply chain issues will weigh on its second quarter.
The Canadian leisure-vehicle manufacturer said it now expects normalized earnings, an adjusted metric, to rise to between 11 Canadian dollars (US$8.75) a share and C$11.35 a share, which would represent an increase of around 11% to 14%.
Previously, the company had guided for normalized per-share earnings to be between C$10.75 and C$11.10.
Revenue is still expected to rise between 24% and 29% from fiscal 2022’s C$7.65 billion.
However, for the second quarter, BRP said it anticipates normalized earnings before interest, taxes, depreciation and amortization to be flat or down on a percentage basis in the low-single-digit compared with the prior-year period.
BRP cited supply chain constraints which have weighed on the company’s ability to obtain key components to fill demand, and which are expected to continue throughout the year.
Write to Adriano Marchese at [email protected]
