Welcome to our dedicated page for Polaris Inds news (Ticker: PII), a resource for investors and traders seeking the latest updates and insights on Polaris Inds stock.
Polaris Inc. reports news about its powersports and marine vehicle portfolio, including off-road vehicles, snowmobiles, boats, military, quadricycles and commercial transportation vehicles. Company updates commonly cover RANGER, RZR, Polaris XPEDITION, Bennington pontoons, Slingshot, parts, garments and accessories, along with dealer availability and product-line announcements.
Recurring Polaris news also includes quarterly financial results, guidance commentary, dividend declarations, tariff and manufacturing updates, motorsports activity for RZR Factory Racing, brand partnerships, and TRAILS GRANTS support for off-road and snowmobile riding organizations in the United States and Canada.
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.
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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.
Polaris Inc. (NYSE: PII) will release its first quarter 2022 financial results on April 26, 2022, at 9:00 a.m. CT. The call will be hosted by Mike Speetzen, CEO, and Bob Mack, CFO. Interested parties can access the call via phone or webcast; details are available on the Investor Relations website. Polaris, a leader in Powersports, achieved $8.2 billion in sales in 2021 and offers a range of products including off-road vehicles and motorcycles, serving over 100 countries worldwide.
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Polaris Inc. (NYSE: PII) has launched the Empowersports Diverse Riding Council, featuring 16 multicultural riders to enhance diversity in powersports. This initiative aims to foster community engagement and safety while promoting outdoor adventures. Polaris plans to grow its customer base by more than 50% over the next decade, leveraging insights from varied rider demographics. Recent trends show 70% of new customers are first-time Polaris users, including significant increases among women and multicultural participants.