Quebec Ski-Doo maker BRP shares hit major high
MONTREAL — Shares of recreational products maker BRP Inc. hit an all-time high Thursday after the Quebec-based company raised its financial guidance for a second consecutive quarter, as revenues surged in the second quarter driven by higher sales of off-road vehicles and watercraft. BRP shares peaked at $74.67 in early trading on the Toronto Stock Exchange and were up 7.2 per cent at $69.83 by early afternoon. Adjusted profit excluding one-time items was $66.4 million or 66 cents per diluted share, up from $22.9 million or 20 cents per diluted share a year ago. BRP said revenue was nearly $1.21 billion, up 18 per cent from $1.02 billion a year ago.