BRP Inc. (NASDAQ:DOOO) Q3 2024 Earnings Conference Call November 30, 2023 9:00 AM ET

Company Participants

Philippe Deschênes - Director of Investor Relations

José Boisjoli - President & Chief Executive Officer

Sébastien Martel - Chief Financial Officer

Conference Call Participants

Craig Kennison - Baird

Robin Farley - UBS

James Hardiman - Citi

Martin Landry - Stifel

Joe Altobello - Raymond James

Benoit Poirier - Desjardin Capital Markets

Xian Siew - BNP Paribas

Jonathan Goldman - Scotiabank

Jaime Katz - Morningstar

Luke Hannan - Canaccord Genuity

Cameron Doerksen - National Bank Financial

Mark Petrie - CIBC World Markets

Tristan Thomas-Martin - BMO Capital Markets

Sabahat Khan - RBC Capital Markets

Brian Morrison - TD Securities

Operator

Good morning, ladies and gentlemen and welcome to the BRP Inc.’s Fiscal Year 2024 Third Quarter Results Conference Call. For participants who use the telephone line, it is recommended to turn off the sound on your device.

I would now like to turn the meeting over to Mr. Philippe Deschênes. Please go ahead.

Philippe Deschênes

Thank you, Sylvie. Good morning and welcome to BRP’s conference call for the third quarter of fiscal year 2024. Joining me this morning are José Boisjoli, President and Chief Executive Officer; and Sébastien Martel, Chief Financial Officer.

Before we move to the prepared remarks, I would like to remind everyone that certain forward-looking statements will be made during the call and that the actual results could differ from those implied in the statements. The forward-looking information is based on certain assumption and is subject to risk and uncertainties and I invite you to consult BRP’s MD&A for a complete list of these. Also, during the call reference will be made to supporting slides and you can find the presentation on our website at brp.com under the Investor Relations Section.

So with that, I'll turn the call over to José.

José Boisjoli

Thank you, Philippe. Good morning, everyone and thank you for joining us. BRP delivered a sound performance in the third quarter as our team continued to demonstrate it’s commitment and resilience in a dynamic environment. We maintain our momentum in gaining market share in the off-road category and delivered financial results that came in close to our expectation. However, like the rest of the industry and despite our continued solid execution, we are seeing signs of softening demand in certain product category, more particularly in international markets. The situation leads us to proactively take a more cautious approach for the upcoming quarters as we strive to maintain a solid value proposition for dealers. We remain committed to continue to lead our industry and to further grow our market share. We believe that our proactive action will further solidify BRP position for long-term success.