BRP Inc. Announces Leadership Changes and Financial Results Amid Market Uncertainty

In a significant development for BRP Inc., the Canadian leisure products giant, the company announced the retirement of its long-serving President and CEO, José Boisjoli, after 22 years at the helm. This announcement came during BRP’s annual and special meeting of shareholders, which was held virtually and broadcasted live. Boisjoli, who has been instrumental in steering BRP through various challenges, including the recent trade war uncertainties, will step down by the end of the fiscal year.

Leadership Transition and Board Changes

The meeting also marked the election of new directors and the composition of board committees, signaling a new chapter for BRP. The company, known for its diverse range of recreational vehicles, including watercrafts, snowmobiles, and all-terrain vehicles, is poised to continue its legacy of innovation and growth under new leadership.

Financial Performance Amid Challenges

BRP reported its fiscal year 2026 first-quarter results, revealing a mixed financial performance. The company’s revenues stood at $1,846.9 million, a 7.7% decrease compared to the previous year. However, net income saw a significant increase of 278.8%, reaching $161.0 million. Despite the revenue decline, the company’s normalized EBITDA was $200.8 million, down 34.7% year-over-year, and normalized diluted earnings per share were $0.47, also reflecting a decrease.

Market Context and Future Outlook

The announcement of Boisjoli’s retirement and the financial results come at a time of broader market uncertainty, influenced by ongoing trade tensions. The Canadian market, including BRP’s shares on the Toronto Stock Exchange, experienced volatility, with the TSX Composite Index gaining 193.18 points to 26,073.13 following news of extended trade talks between the U.S. and the European Union.

As BRP navigates this transition, the company remains focused on its strategic goals and maintaining its position as a leader in the leisure products industry. Investors and stakeholders will be closely watching the appointment of Boisjoli’s successor and the impact of the new board composition on BRP’s future direction.

With a market capitalization of 3.65 billion CAD and a price-to-earnings ratio of 58.95, BRP continues to be a significant player in the consumer discretionary sector. The company’s ability to adapt to changing market conditions and leadership dynamics will be crucial in sustaining its growth trajectory in the coming years.