Polaris Inds Stock Price, News & Analysis

Polaris Slingshot announced the winner of its build-off competition between DUB and The Auto Firm, with DUB's custom blacked-out 2020 Slingshot for Travis Barker taking the title. The event highlighted the Slingshot as a platform for personalization, featuring unique designs that reflect client personalities. DUB's creation boasts a fully blacked-out design complemented by custom seating and an enhanced sound system. The competition reinforces Polaris Slingshot's dedication to innovation and community engagement in the automotive customization sector.

Polaris RZR Factory Racing Team achieved its eighth consecutive championship at the 53rd SCORE Baja 1000, with Wes Miller winning the Pro Turbo class. The team secured the overall win and three podium finishes, with a total of 42 entries. Miller finished the grueling 898-mile race in just over 26 hours, outperforming competitors significantly. Other notable finishes included Adrian Orellana's 2nd and Kaden Wells' 3rd in Pro UTV N/A. Team Manager Brett Carpenter highlighted the success as a testament to Polaris' racing platform, building momentum for the upcoming Dakar Rally in January 2021.

Polaris Inc. (NYSE: PII) announced the departure of its Chairman and CEO, Scott Wine, who will take on the CEO role at CNH Industrial. Wine will remain at Polaris through year-end as succession plans are finalized. Under his leadership since 2008, Polaris expanded from $1.9 billion to nearly $7 billion in sales and tripled its market presence, achieving Fortune 500 status. Polaris reaffirmed its 2020 sales and earnings guidance, projecting adjusted earnings of $7.15 to $7.30 per diluted share, marking a 13-16% increase from 2019.

Polaris Off Road has partnered with Zac Brown Band and Camp Southern Ground for the Proud American Thank You initiative, honoring veterans and active military. This event starts on Veterans Day and concludes with a concert on December 27, where Polaris will match donations up to $25,000 for veterans' programs. Camp Southern Ground offers vital support for post-9/11 veterans. Polaris also continues its Heroes Advantage Program, providing discounts on vehicles to military personnel.

Polaris RZR has unveiled the RZR Pro XP, which will compete in the 2021 Dakar Rally, showcasing its performance and innovation. The racing team aims to leverage its extensive experience to push the boundaries of side-by-side vehicle design. The RZR Pro XP is equipped with a 925cc turbocharged engine, advanced suspension, and durable stock components, designed to withstand the race's harsh conditions. Polaris aims to build on its history of success in racing, with the Dakar Rally running from January 3 to January 15, 2021.

Polaris Inc. (NYSE: PII) reported Q3 2020 sales of $1,954.6 million, a 10% increase year-over-year, with net income rising 89% to $166.8 million, or $2.66 per diluted share. Operating expenses decreased by 4%, while gross profit surged 22% to $534.6 million, driven by strong demand for ORV, motorcycles, and boats despite supply chain challenges. The company raised its full-year sales guidance to between $6.925 billion and $7 billion, reflecting optimistic market conditions. Cash reserves increased significantly to $820.6 million from $122.2 million in 2019.

Polaris Slingshot has partnered with Minnesota Vikings Tight End Kyle Rudolph to auction his custom, Vikings-themed Slingshot, with proceeds benefiting M Health Fairview University of Minnesota Masonic Children’s Hospital. The auction is live, starting at $11,100, and will close on October 31 at 9 p.m. CT. Rudolph, dedicated to the hospital since 2011, designed this unique vehicle featuring the team's colors and logo. Polaris aims to support community initiatives through this collaboration, enhancing brand visibility while contributing to a charitable cause.

Polaris Inc. (NYSE: PII) has committed $97,000 through its T.R.A.I.L.S. Grants program to improve off-road trails and educate on ATV safety. Ten nonprofit organizations were awarded grants ranging from $8,000 to $10,000 for trail maintenance, safety courses, and other initiatives. Notable recipients include Phoenix Children’s Hospital, which will use its grant to provide ATV Rider Camps. Since 2006, the T.R.A.I.L.S. Grants program has awarded over $2.7 million to 315 organizations, promoting safe riding and environmental preservation.

Polaris RZR Factory Racing secured multiple victories at the 2020 UTV World Championship in Lake Havasu, Arizona, winning the Pro Turbo Desert, Pro N/A Desert, and Pro Short Course classes. Ryan Piplic achieved his first career win in the Pro Turbo class, leading a strong performance from his teammates. The company also launched a youth racing sponsorship program, awarding $15,000 in support to four young racers. Notable wins included Ronnie Anderson in Pro Short Course and Dodge Poelman in Pro N/A Desert, enhancing Polaris's reputation in off-road racing.