Every 10-Q that Polaris Inc. (PII) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PII and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PII filings page.
Polaris Inc. reported third-quarter sales of $2,042.6 million, up 11% from $1,841.6 million a year earlier, and net income attributable to Polaris of $38.4 million versus a $15.8 million loss. Gross profit rose 14% to $432.4 million; adjusted EBITDA was $180.0 million, up 28%, with an 8.8% margin versus 7.6%.
Management attributed higher sales primarily to increased shipments and higher net pricing, partly offset by the Indian Motorcycle divestiture and product mix. Higher net pricing, favorable operating costs and tariff refunds contributed to the gross profit increase, partly offset by higher commodity costs and incremental tariff expense. The company recognized an $83.7 million year-to-date benefit related to tariff claims, supplier amounts and interest, and said it had collected substantially all refunds for claims submitted to date. The Indian Motorcycle sale closed February 2, 2026, and resulted in a $14.0 million incremental pretax loss during the first nine months.
For the first nine months, operating cash flow was $291.8 million, compared with $562.3 million a year earlier; management attributed the decline primarily to working capital remaining consistent rather than decreasing as it had in the prior-year period. At September 30, 2026, cash and cash equivalents were $301.7 million, financing obligations were $1,628.4 million, and Polaris was in compliance with all debt covenants.
Polaris Inc reported Q2 2026 sales of $2,022.8 million, up 9% year over year, with net income attributable to the company of $106.4 million, or $1.82 diluted EPS, versus a prior-year loss.
Gross profit rose to $478.3 million and margin expanded to 23.6%, driven by higher shipments, improved pricing and mix, and a $73.9 million IEEPA tariff refund benefit that more than offset incremental tariff expense. Adjusted EBITDA doubled to $239.4 million (11.8% margin). Polaris Powersports sales grew 17%, Marine 16%, and Aixam & Goupil 6%, while corporate sales fell after the Indian Motorcycle divestiture and related disposal losses. Despite better earnings, six‑month operating cash flow was a negative $90.0 million due to working capital build, and financing obligations increased to $1,951.3 million, resulting in a 70% debt‑to‑capital ratio, though the company remained in compliance with amended credit covenants and held $318.3 million of cash and restricted cash.
Polaris Inc. reported first-quarter 2026 sales of $1,658.7 million, up 8% from a year earlier, driven mainly by higher off-road vehicle shipments and better pricing. Gross profit rose to $334.8 million, lifting margin to 20.2% from 16.0% on stronger mix, pricing and lower operational costs despite higher tariffs.
The company still posted a net loss attributable to Polaris of $47.4 million, or $0.83 per diluted share, though this improved from a $66.8 million loss, or $1.17 per share, a year ago. Adjusted EBITDA nearly doubled to $102.8 million, helped by mix, pricing and volume, but results included a $31.6 million loss on disposal groups tied to the February 2026 sale of a majority interest in the Indian Motorcycle business and other assets held for sale.
Operating cash flow swung to an outflow of $320.2 million, reflecting heavy working capital use, while investing cash outflows increased on Indian Motorcycle-related payments and strategic investments. Polaris leaned on its credit facility, ending the quarter with $2,091.0 million of financing obligations, including $593.8 million drawn on the revolving loan and $468.8 million outstanding on the term loan. Product liability accruals increased to $442.3 million, partially offset by $223.9 million of expected insurance recoveries. Management highlighted ongoing tariff headwinds and noted no IEEPA tariff refunds have been recorded.
Polaris Inc. reported third‑quarter results with sales of $1,841.6 million, up 7% year over year, and gross profit of $380.3 million, roughly flat at 20.6% of sales. The quarter swung to a net loss of $15.8 million (−$0.28 per diluted share) versus net income of $27.7 million a year ago, driven by a $42.3 million long‑lived asset impairment in the On Road segment, higher incentive compensation, and incremental tariff charges.
Year‑to‑date, sales were $5,230.1 million (down 4%), with a net loss of $161.9 million, including a $52.6 million goodwill impairment for the On Road reporting unit and a $49.4 million impairment of a nonmarketable investment. Operating cash flow strengthened to $562.3 million, aided by working capital improvements. Financing obligations declined to $1,734.6 million, while cash rose to $335.5 million.
After quarter‑end, subsidiaries entered a definitive agreement to sell a majority stake in Indian Motorcycle, expected to close in Q1 2026. The company expects $275–$325 million in pre‑tax charges (approximately $230–$280 million net of an expected $45 million tax benefit), including about $100 million in future cash expenditures.