UPDATE: Polaris Industries Posts 26% Rise In Q1 Profit, Raises Full-Year Forecast
Polaris Industries (NYSE: PII) reported a 26% rise in its first-quarter earnings.
Polaris lifted its full-year earnings forecast to $5.05 to $5.20 per share on sales growth of 12% to 15%. The company in January expected earnings of $4.85 to $5.05 per share on sales growth of 7% to 10%.
Polaris' quarterly profit surged to $75.5 million, or $1.07 per share, from $60.1 million, or $0.85 per share, in the year-ago period.
Its sales rose 11% to $745.9 million. However, analysts were expecting earnings of $1.01 per share on sales of $751 million.
Its gross margin widened to 29% from 28.9%.
Polaris shares closed at $85.24 yesterday.
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