Polaris Inds Stock Price, News & Analysis

Polaris Inc. (NYSE: PII) appoints Ben Duke as the new president of Marine, succeeding Jake Vogel, who will transition to a strategic advisory role. Duke has been with Polaris since 2019, managing the Godfrey and Hurricane brands, and has previously held leadership positions at Briggs and Stratton and Mercury Marine. The company acknowledges the Vogel family’s significant impact on the boating industry, particularly through brands like Bennington. Polaris aims to continue enhancing its Marine business under Duke's leadership.

Polaris Inc. (NYSE: PII) showcased remarkable performance at the 2022 Best In The Desert Jimco Racing Silver State 300. Mitch Guthrie Jr finished second overall and second in the 1500 Unlimited Buggy class, just 12 seconds behind the leader and 23 minutes ahead of the top UTV class finisher. Guthrie, starting in ninth, completed the 300-mile race in 5 hours, 23 minutes, and 8 seconds. The team also excelled in the Pro Naturally Aspirated class, sweeping the podium with Max Eddy Jr, Josh Row, and Ethan Groom securing the top three spots.

Polaris Inc. (NYSE: PII) has declared a regular quarterly cash dividend of $0.64 per share. This dividend will be payable on June 15, 2022, to shareholders of record at the close of business on June 1, 2022. With annual sales of $8.2 billion in 2021, Polaris continues to lead the powersports industry, offering a diverse range of products, including off-road vehicles, motorcycles, and boats.

Polaris Inc. (NYSE: PII) reported first-quarter sales of $1,957 million, flat year-over-year, and earnings per share (EPS) of $1.14, a 46% decline. Adjusted EPS was $1.29, down 44%. Supply chain challenges and inflation drove a 48% drop in net income to $70 million. Retail sales decreased 22%, contrasting last year’s 70% rise. The company repurchased ~1.5 million shares for $172 million, maintaining a strong demand despite operational hurdles. They forecast 2022 sales between $9,215 million and $9,455 million, with adjusted EPS expected between $10.10 and $10.40.

Polaris Inc. (NYSE: PII) announced a donation of nearly $120,000 to 13 organizations through its T.R.A.I.L.S. Grant Program. This initiative supports the development and improvement of off-road trails and promotes safe riding practices nationwide. Grant amounts range from $6,000 to $10,000, benefiting local clubs and nonprofits. Since 2006, the program has awarded over $3 million to various recreational organizations, enhancing trail access and education for safe riding. The Spring 2022 recipients include clubs from multiple states contributing to the off-roading community.

Polaris Slingshot has announced that starting April 20, drivers in New York can operate a Slingshot with a standard D-class driver's license instead of needing a motorcycle endorsement. This change reclassifies the Slingshot as a three-wheeled motor vehicle, making it more accessible to a wider audience. The Slingshot features a unique three-wheel design and offers various models ranging from $20,799 to $35,799, enhancing personalization options for drivers. The company aims to expand its community of Slingshot enthusiasts across New York.

Polaris Inc. (NYSE: PII) has expanded its innovative Polaris Adventures Select membership program to four additional states: Michigan, Minnesota, South Dakota, and Wisconsin. This monthly membership enables users to access a wide range of Polaris vehicles, including on-road and off-road options, starting at $149 per month. The program aims to offer flexible adventure options for both new and experienced riders. Bookings are now open, with riding set to commence on May 18, 2022, depending on weather conditions.

Wayne Matlock led the Polaris RZR Factory Racing team to victory at the 35th SCORE San Felipe 250, driving the RZR Pro R. Matlock won the overall race in 6 hours, 8 minutes, and 50 seconds, nearly five minutes ahead of the next competitor. The Polaris team swept the Pro UTV classes, with Justin Lambert claiming the Pro Turbo Class victory. The performance showcased the durability and capabilities of the RZR Pro R, validating Polaris's leadership in the off-road vehicle market.