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 approved a 2% increase in its regular quarterly cash dividend, raising it to $0.64 per share. This marks the 27th consecutive year of dividend increases, effective from the first quarter of 2022. The dividend will be payable on March 15, 2022, to shareholders of record as of March 1, 2022. CEO Mike Speetzen stated that the company is in a strong financial position and committed to delivering sustained value to shareholders despite supply chain challenges.
Polaris reported record annual sales of $8.198 billion for 2021, up 17% year-over-year. Full-year adjusted net income reached $9.13 per diluted share, surpassing guidance. However, Q4 2021 sales saw only a 1% increase to $2.170 billion, with net income declining 56% to $1.40 per share. Gross profit fell 19% to $445 million, impacted by higher costs and supply chain issues. The company anticipates sales growth of 12% to 15% in 2022 with adjusted net income guidance of $10.10 to $10.40 per share.
Polaris Inc. (NYSE: PII) has launched new limited edition off-road vehicles for 2022, including the RANGER XP 1000 Big Game and Waterfowl Editions, along with new Sportsman and Scrambler models. The RANGER CREW XP 1000 NorthStar Big Game Edition offers enhanced comfort and features for hunters. The Sportsman lineup, including the Ultimate Trail Limited Edition, aims to elevate trail riding experiences. Additionally, the RZR Pro XP Ultimate Rockford Fosgate® Limited Edition delivers a premium audio experience. These updates reflect Polaris's commitment to innovation in the off-road vehicle market.
Polaris Inc. (NYSE: PII) announced the retirement of Richard Edwards, vice president of Investor Relations, effective April 2022, after over 20 years of service. J.C. Weigelt will succeed him, having joined Polaris on January 3, 2022. Edwards has been instrumental in shaping the Investor Relations team and cultivating strong investor relationships. Weigelt brings over 15 years of IR experience from nVent Electric and St. Jude Medical. Polaris continues to focus on transparency and engagement with the investment community.
Polaris Inc. (NYSE: PII) will release its fourth quarter and full year 2021 financial results on January 25, 2022, followed by a conference call at 10:00 a.m. central time. The event will be hosted by Mike Speetzen, CEO, and Bob Mack, CFO. A slide presentation and webcast link will be available on the Polaris Investor Relations website. A replay of the call will also be accessible through the same site. Polaris, based in Minnesota, generates substantial revenue from its diverse portfolio of powersports products, achieving $7.03 billion in sales in 2020.
Polaris Inc. (NYSE: PII) has secured a $500 million 364-day unsecured term-loan facility to bolster its liquidity. The company emphasizes prudent management of its financial resources, aiming to leverage low interest rates. Proceeds will facilitate general corporate purposes and support a $1 billion share repurchase plan, underscoring its commitment to capital allocation strategies that enhance long-term investor value. Polaris generated $7.03 billion in sales in 2020 and continues to innovate within the Powersports industry, serving over 100 countries worldwide.
Octane has partnered with Polaris Inc. (NYSE: PII) to enhance the digital financing process for powersports purchases starting January 1, 2022. This collaboration aims to streamline loan applications, approvals, and documentation, allowing customers to finance Polaris off-road vehicles, Indian Motorcycles, and Slingshot vehicles efficiently. Through Octane's digital tools, dealers can close deals in under five minutes, facilitating easy access to a wider range of customers. With rising interest in outdoor recreation, this partnership aligns with increasing consumer demand for seamless financing solutions.
Polaris Slingshot has unveiled its 2022 model lineup, featuring the reintroduction of the popular SLR model and several new accessories aimed at enhancing personalization. The lineup includes a new Vented Sport Hood for improved aerodynamics, and a competitively priced Excursion Top for better comfort. Additionally, Brembo brakes will now be standard on R models. Pricing ranges from $19,999 to $34,499 depending on the model. Shipping is expected to begin in early 2022.
Polaris Inc. (NYSE: PII) has partnered with Qmerit to offer home charging installation services for its electric vehicle customers in the U.S. This collaboration aims to provide a streamlined installation solution for the RANGER XP Kinetic, Polaris's new electric model. Customers will benefit from Qmerit's extensive network of certified electricians, ensuring a convenient charging solution. Polaris emphasizes that this partnership enhances customer experience while transitioning to electric offerings.
Polaris introduces the all-new RANGER XP Kinetic, an electric utility vehicle (UTV) developed in partnership with Zero Motorcycles. This UTV boasts an industry-leading 110 HP and 140 lb-ft of torque, enabling it to tow up to 2,500 lbs and haul 1,250 lbs. The Premium model starts at $24,999 with a 45-mile range, while the Ultimate trim starts at $29,999 and offers an 80-mile range. The electric powertrain minimizes maintenance, promising a 70% reduction in scheduled costs compared to gas vehicles. Reservations begin December 1 with first shipments in Summer 2022.