06:27 AM EST, 12/06/2024 (MT Newswires) -- BRP (DOOO) on Friday reported a decrease in third-quarter normalized net income on lower North American retail sales amid softer demand.

Third-quarter normalized net income fell to $85.2 million, or $1.16 per share, compared with $252.1 million, or $3.24 per share.

The results beat the FactSet consensus earnings per share estimate of $0.67.

Revenue also fell, dropping to $1.96 billion from $2.37 billion. Normalized ebitda decreased to $264.1 million from $462.8 million.

A lower volume of shipments, higher sales programs and decreased leverage of fixed costs due to reduced production have resulted in a decrease in the gross profit and gross profit margin, the company said.

The decrease was partially offset by favorable pricing, production efficiencies and optimized distribution costs.

BRP reaffirmed its full-year guidance, adjusted for discontinued operations, with revenues expected to be between $7.6 billion and $7.8 billion. Normalized earnings per share guidance is $4.25 to $4.75.