Polaris Industries Q4 Profit Soars, Tops Estimates; Initiates FY23 Outlook

RTTNews | 795 days ago
Stocktwits
Polaris Industries Q4 Profit Soars, Tops Estimates; Initiates FY23 Outlook

(RTTNews) - While reporting financial results for the fourth quarter and fiscal 2022 on Tuesday, automotive manufacturer Polaris Industries Inc. (PII) initiated adjusted earnings and sales growth guidance for the full-year 2023.

For fiscal 2023, the company now projects adjusted earnings from continuing operations attributed to Polaris Inc. common shareholders to be between down 3 percent and up 3 percent from last year. Sales are also expected to be flat to up 5 percent from last year.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.97 per share on a sales decline of 2.4 percent to $8.41 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net income attributable to Polaris of $195.5 million or $3.34 per share, sharply up from $86.8 million or $1.40 per share in the prior-year quarter.

Net income from continuing operations surged to $3.36 per share from $1.40 per share last year. Excluding items, adjusted net income for the quarter was $3.46 per share, compared to $2.20 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $3.27 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $2.40 billion from $1.99 billion in the same quarter last year. Analysts expected revenue of $2.41 billion, for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: PII
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CPSC Recalls: Polaris ROVs, Floating Wall Theaters, Charge Case Accessory, Backpack Sprayers

CPSC Recalls: Polaris ROVs, Floating Wall Theaters, Charge Case Accessory, Backpack Sprayers

The U.S. Consumer Product safety Commission or CPSC has announced recalls including Polaris Industries Inc.'s Ranger XP Kinetic Recreational Off-Road Vehicles or ROVs, Manhattan Comfort Inc.'s Floating Wall Theater Entertainment Centers and Panels, Humane Inc.'s Charge Case Accessory for Ai Pin, Harbor Freight Tools' Bauer 4-Gallon Battery-Powered Backpack Sprayers, ...
RTTNews | 155 days ago
CPSC Recalls: Vehicles, Air Fryers, Grills, Bunk Beds, Saddles

CPSC Recalls: Vehicles, Air Fryers, Grills, Bunk Beds, Saddles

The U.S. Consumer Product Safety Commission or CPSC has announced recalls including vehicles, air fryers, grills, bunk beds, and saddles, among others, for various reasons. The recall involves Polaris Industries Inc.'s RZR 200 Youth as well as Ranger XP Kinetic recreational off-road vehicles, Kubota Tractor Corp.'s utility vehicles, BRP US' side-by-side vehicles,...
RTTNews | 477 days ago
Textron, Polaris Recall Off Highway, Off-Road Vehicles

Textron, Polaris Recall Off Highway, Off-Road Vehicles

The U.S. Consumer Product Safety Commission or CPSC announced various vehicle recalls by Textron Specialized Vehicles and Polaris all manufactured domestically, mainly citing crash hazard. Textron has recalled about 6,800 units of Arctic Cat and Tracker Side by Side Recreational Off Highway Vehicles or ROVs, as well as about 1,660 units of E-Z-GO PTV And Tracker OX EV Vehicles.
RTTNews | 512 days ago
Swiss Market Ends Sharply Lower On Trade War Fears

Swiss Market Ends Sharply Lower On Trade War Fears

Swiss stocks fell sharply on Friday, mirroring losses across Europe and elsewhere, as the Trump Administration's sweeping tariffs on trade partners, and retaliatory move announced by China, and possible countermeasures by a few other major countries as well, raised fears of a possible global recession.
RTTNews | 1 day ago
European Stocks Tumble As China Retaliates After Trump's Tariff Moves

European Stocks Tumble As China Retaliates After Trump's Tariff Moves

European stocks plunged sharply and several market tumbled to fresh multi-month lows on Friday as U.S. President Donald Trump's sweeping tariff moves, and the retaliatory action by China raised fears of a global trade war and recession, prompting investors to press sales across the board.
RTTNews | 1 day ago
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