BRP (DOO) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 revenues reached $8.4B (CAD 8.4B), exceeding guidance, with normalized EPS of $5.21 and free cash flow over $900M.

• New CEO emphasized strong company culture, innovation, and successful leadership transition.

• Completed network inventory right-sizing, with North American inventory down 17% year-over-year and 6% below pre-COVID levels.

• Significant product launches, including new Can-Am Defender HD11 SSV and high-cc ATV models, and progress on exiting the Marine segment.

• Launched the M28 Strategic Plan targeting $9.5B revenue and $8.00 normalized EPS by FY28.

Financial highlights

• FY26 revenue reached $8,443M, up 7% year-over-year, with normalized EBITDA of $1,103M and normalized EPS of $5.21, all above guidance.

• Q4 revenue grew 16% year-over-year to $2.5B, with double-digit growth across all product categories.

• Free cash flow rose 114% to $929M, with net cash from operating activities at $1,212.5M.

• Announced a 16% dividend increase to $0.25/share and continued share buybacks with 2.6M shares authorized.

• Net income for FY26 was $340M, up 426.9% year-over-year.

Outlook and guidance

• FY27 guidance: revenue $8.9B–$9.15B (up 5–8%), normalized EBITDA $1.175B–$1.275B (up 6–16%), normalized EPS $5.50–$6.50 (up 6–25%).

• Net income projected at $410M–$480M, up 20–41%.

• Q1 FY27 normalized EBITDA expected to rise ~40% year-over-year.

• Guidance incorporates macroeconomic uncertainty, higher oil prices, and potential industry demand shifts.

• If demand softens mid-year, EPS could land in the lower half of guidance; currently tracking toward upper half.