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

RTTNews | 1008 ngày trước
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 | 368 ngày trước
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 | 690 ngày trước
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 | 725 ngày trước
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

After languishing in negative territory till well past mid afternoon on Tuesday, the Switzerland market recovered in the final hour of the day's session to settle on a firm note.
RTTNews | 3h 33phút trước
European Stocks Close Weak Despite Late Recovery

European Stocks Close Weak Despite Late Recovery

European stocks closed lower on Tuesday and most of the markets in the region dropped to multi-week lows before regaining some lost ground, as worries about the potential impact of U.S. government shutdown and growth concerns due to tariffs forced investors to tread cautiously with regard to riskier assets.
RTTNews | 4h 0phút trước
Bay Street Likely To Open With Negative Gap

Bay Street Likely To Open With Negative Gap

Sharply lower Canadian and U.S. futures and weak commodity prices point to a gap down opening on Bay Street Tuesday morning. The focus will be on the Federal Budget to be presented by Canadian Prime Minister Mark Carney today.
RTTNews | 8h 8phút trước
Uber Q3 Profit Surges On Higher Trips, Sees Growth In Q4; But Stock Drops

Uber Q3 Profit Surges On Higher Trips, Sees Growth In Q4; But Stock Drops

Uber Technologies, Inc. reported Tuesday significantly higher profit in its third quarter as revenues beat market estimates, benefited by strong growth in trips. Bookings also were higher than last year, and the ride-hailing and food delivery company issued fourth-quarter outlook, expecting a growth. Meanwhile, the shares were losing around 5 percent in the pre-market activity.
RTTNews | 8h 37phút trước