During a Fiscal Year 2017 third-quarter earnings call that surprised many analysts’ expectations, Polaris reported stronger sales and improved profits due in part to increased sales of off-road vehicles.
“Our emphatic return to profitable growth in the third quarter was a testament to the power of the Polaris brand, the strength of our dealer network and the competitive drive of the Polaris team,” said CEO Scott Wine during a conference call on Tuesday, October 24. “During the quarter, strong retail growth in both North America and nearly all of our international markets drove record sales and highlighted our ongoing product innovation, improving product quality and sharpened execution.”
According to the release, net income increased to $81.9 million, or $1.28 a share – from $32.3 million, or 50 cents a share, in the same period a year ago. Excluding the costs to wind-down Victory Motorcycles and other one-time costs, revenue rose 25 percent to $1.48 billion as the 12 percent growth in off-road-vehicle and snowmobile sales to $1.01 billion beat analyst expectations.
of $939.9 million. Polaris raised its 2017 adjusted EPS guidance range to $4.75 to $4.85 from $4.35 to $4.50. The stock has soared 15% over the past three months
Polaris shares recently closed at $123.18, an increase of nearly 15 percent over the last three months, and is at the highest level since November 2015.