...May 18, 2023 The company's fiscal 2024 revenue growth should normalize following industrywide tailwinds that accelerated the topline growth in fiscal 2023. The demand trends for Bombardier Recreational Products Inc. (BRP) were resilient in fiscal 2023 (ended Jan. 31, 2023), with strong revenue growth of 31.2% on increasing volumes, market share gains, and pricing initiatives. The industry sustained positive momentum, with higher traffic at trade shows and dealerships, including a continued influx of new entrants. That said, S&P Global Ratings expects BRP's revenue growth will normalize over the next 12 months, compared with past few years of extraordinary growth amid an economic slowdown. However, we still expect BRP's topline growth to be in high-single-digit percentage area, supported by market share gains in year-round stockkeeping units and increased production capacity. Elevated costs suppressed an S&P Global Ratings-adjusted EBITDA margin and we forecast a sustained margin in low-17%...
