8:44 ET -- BRP is navigating U.S. tariffs better than expected, and outlook is getting a boost for it. TD Cowen's Brian Morrison says 2Q Ebitda and EPS "handily exceeded consensus on Utility SxS [side-by-side] strength/market share gains and initial benefits from reduced S232 ATV tariffs." With the Canadian leisure-craft maker upgrading its guidance for the year, the analyst says this could imply that the company has been able to mitigate or increase compliance of its products on the market with respects to U.S. tariffs. Meanwhile, the market continues to be healthy, with demand for utility side-by-sides on the rise. "BRP appears to be gaining market share across segments, and appears to have limited its tariff exposure relative to prior expectations," Morrison adds.
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