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increased due to higher restructuring and reorganization costs and impairment charges taken on unutilized assets . Lower R & D expenses partially offset the increase . The increase in operating expenses includes a favorable foreign exchange rate variation of $ 3 million .

NET INCOME Net income decreased by $ 62.8 million , or 69.7 %, to $ 27.3 million in Q3 , compared to $ 90.1 million in 2023 . The decrease in net income was the result of lower operating income from lower gross margins . Lower

financing costs , a favorable foreign exchange rate variation on the U . S . -denominated longterm debt and a lower income tax expense partially offset the decrease , the company notes .

NINE-MONTH RESULTS Revenues decreased by $ 1,619.4 million , or 22.0 %, to $ 5,732.1 million for the nine months , compared to $ 7,351.5 million in 2023 . The decrease in revenues was primarily due to a lower volume sold across all product lines as a result of softer demand and continued focus on reducing network inventory levels , and higher sales programs . The decrease was partially offset by a favorable product mix and favorable pricing across most product lines . The decrease

includes a favorable foreign exchange rate variation of $ 61 million .

NET INCOME Net income decreased by $ 521.7 million to $ 107.2 million for the nine months , compared to $ 628.9 million for the nine months in 2023 . The decrease in net income was primarily due to lower operating income , resulting from a lower gross margin . Lower financing costs and a lower income tax expense partially offset the decrease .

Consolidated net cash flows generated from operating activities totaled $ 432.9 million for the nine months ended October 31 , 2024 , compared to consolidated net cash flows generated

from operating activities of $ 1,053.2 million for the nine months ended October 31 , 2023 . The decrease was mainly due to lower profitability and unfavorable changes in working capital , partially offset by lower income taxes paid . The unfavorable changes in working capital resulted from maintaining higher provisions , reflecting the industry ’ s promotional intensity and inventory levels .

BRP also invested $ 299.4 million of its liquidity in capital expenditures to introduce new products and modernize its software infrastructure to support future growth .

BRP ’ s third-quarter FY25 webcast presentation is posted in the Quarterly Reports section of its website .

Keeway America , the U . S . distributor for Keeway and Benelli motorcycles , has partnered with Northpoint Commercial Finance .

Dealers can now utilize Northpoint Commercial Finance to plan for 2025 by expanding their offering with Benelli , Keeway Scooters and Benda Motorcycles , with the flexibility Northpoint ’ s floor planning program offers .

2025 MODELS The company says its Benelli ’ s vintageinspired Imperiale 400 has arrived at its warehouse . Keeway also announced that the Benelli TRK 702 and TRK 702X will be available to dealers in this month .

These models are already in high demand , according to Keeway . “ We encourage dealers to pre-order these units now to ensure a full Benelli representation going into the new year ,” the company states . “ Stay tuned for updates on Benelli ’ s Xplorer 902 , Tornado 550 and BKX 300 , slated to take you for a ride in 2025 !”

DEALER STIMULUS In response to a challenging 2024 , the company is entering 2025 with optimism and a commitment to growth , launching an exclusive

opportunity for dealers through its 2025 Dealer Stimulus program .

Dealers who join Keeway America can now unlock exclusive benefits designed to fuel growth in the year ahead . Keeway says this is a limited-time opportunity for dealers to strengthen their business and build a partnership with a growing OEM .

Additionally , Keeway America is looking for industry professionals interested in joining its dynamic team and invites them to send inquiries and resumes to the following : admin @ keewayamerica . com .

Benelli ’ s TRK platform update will make its U . S . debut in January 2025 . Photos courtesy of Benelli