Polaris Inds Stock Price, News & Analysis

Polaris Inc. unveils its 2023 lineup featuring significant upgrades across various models, including the enhanced RIDE COMMAND+ mobile app for connected vehicle services. The new GENERAL XP 1000 Sport trim aims to broaden accessibility for adventure-seekers. Models like the RZR Turbo R and RANGER XP 1000 showcase performance and technological advancements. Key offerings include vehicle health monitoring, ride tracking, and improved safety features. The lineup will begin shipping this fall, with RIDE COMMAND+ available for standard models and as an accessory for others.

Polaris Inc. (NYSE: PII) has declared a quarterly cash dividend of $0.64 per share, payable on September 15, 2022. Shareholders on record by the close of business on September 1, 2022 will receive this dividend. As a leading company in the powersports industry, Polaris specializes in various vehicles, including off-road and electric vehicles, and has been a pioneer in outdoor experiences since 1954.

Polaris Inc. (NYSE: PII) reported second quarter sales of $2,063 million, an 8% increase year-over-year. However, diluted earnings per share (EPS) from continuing operations fell to $2.34, down 5%, while adjusted EPS decreased 7% to $2.42. Gross profit margin contracted to 23.0%, primarily due to inflationary costs and supply chain issues. Despite these challenges, the company anticipates full-year sales growth of 13% to 16% and adjusted EPS guidance of $10.10 to $10.30.

Polaris Inc. (NYSE: PII) will announce its second quarter 2022 financial results on July 26, 2022, followed by a conference call at 9:00 a.m. CT. The call will be led by CEO Mike Speetzen and CFO Bob Mack. Interested parties can access a webcast and accompanying slide presentation on the company's Investor Relations website. A replay will be available post-call. Polaris, a leader in the powersports industry, reported annual sales of $8.2 billion in 2021.

Polaris Inc. (NYSE: PII) has announced a definitive agreement to divest its Transamerican Auto Parts (TAP) business to Wheel Pros. This strategic sale, aimed at refocusing on its core powersports segment, includes TAP's full portfolio and is expected to generate $135 million in cash inflows in H2 2022, with a net sale price around $50 million. While TAP's operations contributed nearly $760 million to Polaris' 2021 revenue, the company will incur a $140 million impairment charge. The transaction is set to close early in Q3 2022, pending closing conditions.

Indian Motorcycle has launched two limited-edition models, the 2022 Indian Challenger Elite and 2022 Chieftain Elite, enhancing its elite bike lineup with exclusive features. Only 200 Challenger Elites and 150 Chieftain Elites are available globally, showcasing premium design, advanced technology, and powerful engines. The Challenger Elite offers a liquid-cooled 108 cubic-inch engine with 122 horsepower, while the Chieftain Elite features an air-cooled Thunderstroke 116 engine with 126 ft-lbs of torque. Prices start at $34,999 for the Challenger and $32,999 for the Chieftain.

Polaris Inc. (NYSE: PII) is promoting outdoor activities on National Get Outdoors Day, June 11, encouraging consumers to engage with its range of powersport products. The campaign features a betting initiative on whether ten of the cloudiest U.S. cities will experience sunshine on that day. Participants can join Team Sunny or Team Cloudy, with chances to win prizes, including Polaris Adventures experiences. Polaris also highlights its expansion of the Polaris Adventures Select subscription service, enhancing access to its vehicles nationwide.

Polaris Inc. (NYSE: PII) launches a national expansion of its Polaris Adventures Select membership program, allowing members to explore various outdoor activities across nearly 200 locations in the U.S. Monthly memberships start at $149, providing access to ATVs, RZR off-road vehicles, Slingshot roadsters, and more. Since its inception, 90% of members are new to powersports, indicating significant customer growth opportunities for Polaris. The program aims to enhance outdoor accessibility and promote flexible riding without ownership barriers.