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

RTTNews | 1009 hari yang lalu
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

read more
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 | 369 hari yang lalu
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 | 691 hari yang lalu
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 | 726 hari yang lalu
U.S. Service Sector Activity Returns To Expansion In October

U.S. Service Sector Activity Returns To Expansion In October

The Institute for Supply Management released a report on Wednesday showing U.S. service sector activity returned to expansion in the month of October. The ISM said its services PMI climbed to 52.4 in October after falling to 50.0 in September, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.8.
RTTNews | 1j 55min yang lalu
U.S. Private Sector Employment Rebounds More Than Expected In October

U.S. Private Sector Employment Rebounds More Than Expected In October

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. rebounded by more than expected in the month of October. ADP said private sector employment climbed by 42,000 jobs in October after slipping by a revised 29,000 jobs in September. Economists had expected private sector employment to rise by 25,000 jobs.
RTTNews | 2j 38min yang lalu