PII - Why Automotive Manufacturer Polaris Shares Are Falling After Q4 Earnings Today | Benzinga
Polaris Inc. (NYSE:PII) reported a fourth-quarter FY23 sales decline of 5% year-on-year to $2.289 billion, above the analyst consensus estimate of $2.247 billion.
Polaris said the primary factors affecting fourth-quarter sales were lower volume, net pricing driven by higher promotional spending, and higher finance interest.
Powersports retail sales for the quarter were up 7%, driven by growth in snow and utility ORV, more than offsetting softness in On Road and Marine.
Adjusted EPS of $1.98 missed the analyst consensus estimate of $2.57.
The ...