06:34 AM EDT, 05/29/2025 (MT Newswires) -- BRP (DOO.TO) on Thursday reported that its fiscal 2026 first-quarter normalized net income dropped amid softer consumer demand.

President and CEO Jose Boisjoli will retire at the end of the fiscal year and also step down as board chair, the company said.

Normalized net income was $34.6 million, or $0.47 per share, down from $120.5 million, or $1.58 per share. The result exceeded the $0.34 earnings per share consensus estimate compiled by FactSet.

Revenues also fell to $1.85 billion from $2 billion, and was higher than the $1.74 billion consensus estimate compiled by FactSet. Normalized EBITDA was $200.8 million, a decline from $307.4 million.

"Looking ahead, given the uncertainty, we are still refraining from making financial projections at this time. In the short-term, although demand remains soft due to a challenging macro environment, our strong product portfolio and leaner inventory levels position us favourably for a rebound," said Boisjoli.

BRP's board is conducting a search for the company's next president and CEO.

The company's board also declared a quarterly dividend of $0.215 per share to be paid on July 14 to shareholders of record at the close of business on June 30.