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In the latest financial reports, both BRP (DOO) and Polaris (PII) have reported significant declines in revenue, net income, and earnings per share (EPS) for the third quarter of 2024. Both companies, major players in the powersports industry, faced considerable challenges due to reduced consumer demand, rising interest rates, and ongoing inflationary pressures.
BRP (DOO) – Q3 2025 Earnings Results
- Earnings Release Date: October 22, 2024
- Revenue: $1.72 billion, down 23% year-over-year
- Net Income: $28 million, down 82% year-over-year
- EPS: $0.49, down 81% year-over-year
- Gross Profit Margin: 20.6%, a decrease of 204 basis points from the previous year
BRP, the parent company behind popular brands like Ski-Doo, Sea-Doo, and Can-Am, reported a significant drop in its financial performance for the third quarter. The decline in revenue and profitability was attributed to decreased demand for powersports products, which also impacted gross profit margins.
Polaris (PII) – Q3 2024 Earnings Results
- Earnings Release Date: October 22, 2024
- Revenue: $1.72 billion, down 23% year-over-year
- Net Income: $28 million, down 82% year-over-year
- EPS: $0.49, down 81% year-over-year
- Gross Profit Margin: 20.6%, a decrease of 204 basis points from the previous year
Polaris, known for its snowmobiles, ATVs, and motorcycles, also faced a downturn in its third-quarter performance. Similar to BRP, the company experienced significant declines in revenue, net income, and EPS, further highlighting the challenging market conditions in the powersports sector.
Comparison of BRP and Polaris’ Financial Results
Both companies reported:
- Revenue: A sharp 23% year-over-year decline in revenue.
- Net Income and EPS: A notable decrease in net income (82%) and earnings per share (81%).
- Gross Profit Margin: A decrease of 204 basis points in gross profit margin.
Why the Decline?
The downturn in financial performance for both BRP and Polaris can be attributed to several factors:
- Decreased Demand for Powersports Products: Both companies are seeing lower consumer spending on recreational vehicles and related products, a trend that has been exacerbated by higher interest rates and inflation.
- Economic Pressures: Rising interest rates and inflationary concerns have put a strain on consumer budgets, reducing discretionary spending.
- Seasonal Factors: Seasonal fluctuations in powersports demand may have also contributed to weaker sales during the quarter.
Outlook and Strategy
Despite the disappointing results, both BRP and Polaris are focusing on innovation and improving their product offerings to meet consumer demand. As the powersports market adjusts to current economic conditions, both companies are expected to continue their efforts to strengthen their positions through new product launches and improved operational efficiencies.
Additional Resources
- BRP Q3 2025 Earnings Release: BRP Earnings Release – Q3 2025
- Polaris Q3 2024 Earnings Release: Polaris Earnings Release – Q3 2024