BRP Inc (DOOO)

Shares of BRP Inc (DOOO) dropped by 11.71% from $69.92 to $61.73 in the trading on Thursday, November 30, 2023. The reason why DOOO is down today is due to the company's third-quarter financial results, which saw profits halving compared to the previous year. Sluggish consumer spending and a decline in consumer confidence were cited as reasons for lower demand for BRP Inc's recreational vehicles, including Sea-Doos, three-wheeled motorcycles, and pontoon boats. Weaker international markets also contributed to the company's challenges. This slowdown prompted BRP Inc to revise its financial forecast, projecting a 6-8% drop in normalized earnings per share for the fiscal year instead of the previously expected rise of up to 7%.