BRP Inc. Files 6-K Report with Press Release

TL;DR

BRP Inc. (DOO) filed a 6-K, including a press release, on March 28, 2024.

AI Summary

BRP Inc. filed a Form 6-K on March 28, 2024, to report information as a foreign private issuer. The filing includes a press release as Exhibit 99.1, which is deemed filed for all purposes under the Securities Act of 1933 and the Securities Exchange Act of 1934. BRP Inc. is incorporated in Quebec, Canada, and its principal executive office is located at 726 Saint-Joseph Street, Valcourt.

Why It Matters

This filing provides updated information to investors and the market regarding BRP Inc.'s operations and disclosures as a foreign private issuer.

Risk Assessment

Risk Level: low — This filing is a routine disclosure report for a foreign private issuer and does not contain significant new financial or operational information that would inherently increase risk.

Key Players & Entities

• BRP Inc. (company) — Filer of the 6-K report
• 726 Saint-Joseph Street (location) — Principal executive office address
• Valcourt, Quebec, Canada (location) — City, Province, and Country of principal executive office
• March 28, 2024 (date) — Filing date of the 6-K report

FAQ

From the Filing

0001193125-24-079588.txt : 20240328 0001193125-24-079588.hdr.sgml : 20240328 20240328070027 ACCESSION NUMBER: 0001193125-24-079588 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20240328 FILED AS OF DATE: 20240328 DATE AS OF CHANGE: 20240328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRP Inc. CENTRAL INDEX KEY: 0001748797 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: A8 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38648 FILM NUMBER: 24793431 BUSINESS ADDRESS: STREET 1: 726 SAINT-JOSEPH STREET CITY: VALCOURT STATE: A8 ZIP: J0E 2L0 BUSINESS PHONE: 450-532-2211 MAIL ADDRESS: STREET 1: 726 SAINT-JOSEPH STREET CITY: VALCOURT STATE: A8 ZIP: J0E 2L0 6-K 1 d806931d6k.htm 6-K 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2024 Commission File Number: 001-38648 BRP INC. (Translation of registrant’s name into English) 726 Saint-Joseph Street Valcourt, Quebec, Canada (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):         Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):         EXHIBIT INDEX Exhibit 99.1 to this report of a Foreign Private Issuer on Form 6-K are deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Exhibit No. Description 99.1 Press Release of BRP Inc., dated March 28, 2024 announcing fourth quarter and fiscal 2024 results SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BRP Inc. Date: March 28, 2024 By: /s/ Sébastien Martel      Name Sébastien Martel Title: Chief Financial Officer EX-99.1 2 d806931dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 PRESS RELEASE For immediate distribution BRP PRESENTS ITS FOURTH QUARTER AND FULL-YEAR 2024 RESULTS Highlights for FY24 Q4 ● Revenues of $2,691.8 million, a decrease of $384.5 million or 12.5% compared to the same period last year, which was a record fourth quarter; ● Net income of $188.2 million, a decrease of $176.9 million or 48.5% compared to the same period last year; ● Normalized EBITDA [1] of $404.5 million, a decrease of $123.5 million or 23.4% compared to the same period last year; ● Normalized diluted earnings per share [1] of $2.46, a decrease of $1.39 per share or 36.1% and diluted earnings per share of $2.46, a decrease of $2.08 per share, or 45.8%, compared to the same period last year; ● Continued outpacing the SSV industry with Can-Am retail sales increasing by more than 20% compared to the same period last year; ● The Company increased its quarterly dividend by 17% to $0.21. Highlights for FY24 ● Increased revenues by 3.3% compared to last year, reaching an all-time record high of $10,367.0 million; ● Net income of $744.5 million, a decrease of $120.9 million or 14.0% compared to last fiscal year; ● Reached revised FY24 guidance with Normalized diluted earnings per share [1] of $11.11, a decrease of $0.94 per share or 7.8%. Diluted earnings per share of $9.47; ● Continued to gain market share as North American Powersports retail sales increased by 8% compared to the same period last year, while the industry increased by