Loading...
Loading...
- Polaris Inc PII reported a fourth-quarter FY22 sales growth of 21% year-on-year to $2.404 billion, missing the consensus of $2.41 billion.
- Retail sales were down 6% versus last year, despite improving performance in utility Off Road and Indian Motorcycle, offset by softness in recreational Off Road demand.
- Sales from the Off-Road segment increased 19%, the On-Road segment rose 29, and Marine jumped 36%.
- Adjusted EPS of $3.46 beat the analyst consensus of $3.27.
- Gross profit for the quarter increased 42.6% Y/Y to $573 million, and the margin expanded by 367 basis points to 23.8%.
- Operating margin expanded 260 basis points to 10.6%, and operating income for the quarter shot up 60.6% to $256.9 million.
- Adjusted EBITDA margin expanded 272 basis points to 14%.
- The company held $339.7 million in cash and equivalents as of Dec. 31, 2022.
- Outlook: Polaris sees FY23 sales to be flat to up 5%. The company expects FY23 adjusted EPS from continuing operations to be down 3% to up 3%.
- Price Action: PII shares are trading higher by 5.28% at $112.25 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in