BRP Announces Record Results in 2023 Financial Report

The company saw a rise in market share and revenue exceeding $10 billion.

BRP announced its 2023 financial results, most of which are highly positive.BRP

Bombardier Recreational Products, better known as Can-Am parent company BRP, posted its fourth-quarter and full-year financial results for fiscal year 2023 this week, showing record revenue, higher profitability, and an increase in market share. For the first time ever, BRP’s full-year revenue climbed past the $10 billion mark, going hand in hand with the company gaining 5 percentage points of market share. Meanwhile, powersports sales increased 21 percent over the fourth quarter. That’s our kind of good news.

Part of the uptick in sales is thanks to UTV production at the new Juarez-3 factory. BRP said that some sales growth was stunted by the ongoing war in Ukraine as well as the fallout from the COVID-19 pandemic. While the pandemic is fading, the release notes that supply chain disruptions continue to affect the company, and the brand is still healing from a recent cyberattack. Still, the 2023 fiscal year was a positive one for BRP, and it expects its 2024 revenue to increase another 9 to 12 percent.

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