On Wednesday, April 24, Polaris Industries announced its Fiscal Year 2019 first-quarter earnings, and the numbers show that after a long winter sledheads are excited for the future ahead.
According to the press release, Polaris posted a $55.7 million, or 85 cents a share, profit compared with a loss of $2.9 million, or 5 cents a share, over the same period one year earlier.
Overall Off-Road Vehicle (ORV) and Snowmobile segment sales increased 15 percent in the first quarter, while overall company sales rose 12 percent to $1.3 billion – more than the $1.22 billion expected by analysts according to FactSet and MarketWatch.
Admitting that overall snowmobile sales were still below expectations this past season, CFO Mike Speetzen also noted during the conference call that, “North American pre-season snow check orders for model year 2019 are at a 17-year high driven by strength of the new 850 Patriot engine.”
“With the first quarter introduction of the epic 850 Patriot snow engine and corresponding sleds… we have made a precedent that will be tough to follow,” CEO Scott Wine said.
Wine also expressed satisfaction with Polaris’ increased dealer engagement over of the previous quarter as one factor for the turnaround, saying delivery had previously been a “big detractor,” but now, “the factory is flowing well and delivery went way down on our list of concerns.”
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