BRP Registers 5% Revenue Decline In Q3 Hit By Supply Chain Disruptions - BRP (NASDAQ:DOOO)

BRP Inc DOOO reported a third-quarter FY22 sales decline of 5.2% year-on-year, to C$1.6 billion, reflecting lower product deliveries mainly caused by supply chain disruptions.
The gross profit declined 15.7% Y/Y to C$410.6 million, with the margin contracting 320 basis points to 25.9%. The company attributed the decrease to higher logistics, commodities, and labor costs due to inefficiencies related to supply chain related disruptions.
Normalized EBITDA decreased 27.8% Y/Y to C$251.7 million.
EPS was C$1.53, and Normalized EPS was C$1.48 for the quarter.
Cash provided by operating activities for the nine months totaled C$61.2 million.
On November 30, 2021, the company's board declared a quarterly dividend of C$0.13 per share for holders of its multiple voting and subordinate voting shares.
Outlook: BRP sees FY22 Normalized EPS of C$9.00 – C$9.75 (previously C$8.25 – C$9.75).
BRP sees FY22 revenue growth of 25%- 30% (previously up 27% - 35%).
Price Action: BRP shares are trading higher by 5.32% at $83.32 on the last check Wednesday.