Futures for all three major indices south of the border are pointing to gains at the open, most significantly on the Nasdaq, where futures are indicating a near-one per cent gain. Back to that topsy-turvy session for a moment – yesterday it was all about the U.S. Federal Reserve’s latest rate decision and more importantly, the commentary that followed.
The company now sees revenue for the year coming in at about US$9 billion – up US$1.5 billion from its earlier forecast – the free cash flow view has nearly double to US$900 million, and the company expects leverage to fall closer to the two to 2.5 times range, lower than previously forecast.
The company – known for ATVs and Sea-doos, but also side-by-side off-road vehicles in recent years – says strong consumer demand helped drive that record revenue in the quarter. While that 31 per cent figure is eye-popping, things are expected to moderate this year, with BRP forecasting revenue growth in the nine to12 per cent range for its fiscal 2024. It’s worth noting quickly that it’s also boosting its quarterly dividend by 13 per cent to $0.18 per share as well.