Welcome to our dedicated page for Polaris news (Ticker: PII), a resource for investors and traders seeking the latest updates and insights on Polaris stock.
Polaris Inc. (NYSE: PII) is a globally recognized leader in the powersports industry, with a strong focus on innovation and customer satisfaction. Headquartered in Medina, Minnesota, Polaris serves more than 100 countries across five continents, employing over 8,000 people. The company designs, engineers, manufactures, and markets a wide range of high-quality vehicles including off-road vehicles like ATVs and side-by-side vehicles, snowmobiles, motorcycles, and on-road electric/hybrid vehicles.
Recent Achievements and Projects
Polaris' latest ventures include significant upgrades to their RANGER lineup, featuring a redesigned front end, a new transmission, and additional factory-installed accessories. They have also announced the introduction of the RANGER CREW XP 1000 NorthStar Texas Edition and the return of the RANGER CREW XP 1000 Waterfowl Edition. The company continues to expand its market presence, notably in the marine industry, following the acquisition of Boat Holdings in 2018.
Financial Condition
Polaris reported strong financial results for the first quarter of 2024, reflecting robust performance across its product lines. The company is set to release its next financial results on April 23, 2024.
Partnerships and Community Involvement
Polaris is deeply committed to community engagement and environmental stewardship through initiatives like the TRAILS GRANTS program, which supports off-road clubs and organizations. Polaris has donated over $3.5 million to these causes since 2006.
Events and Competitions
Polaris Factory Racing continues to dominate in UTV racing events, recently securing top positions in the SCORE Baja 500 and the San Felipe 250. The company's vehicles, particularly the RZR Pro R Factory, have proven themselves formidable in competitive settings.
Customer Engagement
Polaris also operates Polaris Adventures, offering premium ride and drive experiences at over 250 locations across the U.S. and Canada. This initiative aims to provide customers with unique outdoor experiences and introduce them to Polaris' extensive product lineup.
Indian Motorcycle Racing, with Tyler O’Hara, secured the 2022 Mission King of the Baggers Championship at New Jersey Motorsports Park, finishing second in the Main Event. This victory marks O’Hara's second title in three years, highlighting his consistent performance with five podium finishes in seven rounds. The championship was clinched after rival Travis Wyman crashed during the race. The team, bolstered by veteran rider Jeremy McWilliams, optimized the Indian Challenger throughout the season.
Godfrey Pontoons, a leading manufacturer, unveils the Mighty G, the first pontoon specifically designed for electric or gas engines. This 15-foot, versatile craft accommodates up to seven passengers and features compact design elements for enhanced efficiency. The Mighty G is available in two models, optimized for cruising or fishing, and supports a range of electric engines and gas-powered outboards up to 50 HP. Notable features include comfortable seating, a fishing station, and a trailerable Nightshade boat cover. Polaris Inc. (NYSE: PII) continues to innovate in the powersport market through this launch.
Polaris Off-Road has launched a new content series titled Sunday Strolls, featuring athletes like Chad Johnson and Roy Jones Jr. The series showcases extreme joy rides in the Polaris RZR Pro R, guided by off-road champion RJ Anderson. The goal is to introduce new audiences to the excitement of side-by-side vehicles. The series debuts on the Polaris RZR YouTube channel, with episodes highlighting each athlete's experience. The RZR Pro R boasts a class-leading 225 horsepower engine, setting a new standard in the off-road vehicle market.
Polaris Inc. unveils its 2023 lineup featuring significant upgrades across various models, including the enhanced RIDE COMMAND+ mobile app for connected vehicle services. The new GENERAL XP 1000 Sport trim aims to broaden accessibility for adventure-seekers. Models like the RZR Turbo R and RANGER XP 1000 showcase performance and technological advancements. Key offerings include vehicle health monitoring, ride tracking, and improved safety features. The lineup will begin shipping this fall, with RIDE COMMAND+ available for standard models and as an accessory for others.
Polaris Inc. (NYSE: PII) has declared a quarterly cash dividend of $0.64 per share, payable on September 15, 2022. Shareholders on record by the close of business on September 1, 2022 will receive this dividend. As a leading company in the powersports industry, Polaris specializes in various vehicles, including off-road and electric vehicles, and has been a pioneer in outdoor experiences since 1954.
Polaris Inc. (NYSE: PII) reported second quarter sales of $2,063 million, an 8% increase year-over-year. However, diluted earnings per share (EPS) from continuing operations fell to $2.34, down 5%, while adjusted EPS decreased 7% to $2.42. Gross profit margin contracted to 23.0%, primarily due to inflationary costs and supply chain issues. Despite these challenges, the company anticipates full-year sales growth of 13% to 16% and adjusted EPS guidance of $10.10 to $10.30.
Polaris Inc. (NYSE: PII) will announce its second quarter 2022 financial results on July 26, 2022, followed by a conference call at 9:00 a.m. CT. The call will be led by CEO Mike Speetzen and CFO Bob Mack. Interested parties can access a webcast and accompanying slide presentation on the company's Investor Relations website. A replay will be available post-call. Polaris, a leader in the powersports industry, reported annual sales of $8.2 billion in 2021.
Polaris Inc. (NYSE: PII) has announced a definitive agreement to divest its Transamerican Auto Parts (TAP) business to Wheel Pros. This strategic sale, aimed at refocusing on its core powersports segment, includes TAP's full portfolio and is expected to generate $135 million in cash inflows in H2 2022, with a net sale price around $50 million. While TAP's operations contributed nearly $760 million to Polaris' 2021 revenue, the company will incur a $140 million impairment charge. The transaction is set to close early in Q3 2022, pending closing conditions.
Indian Motorcycle has launched two limited-edition models, the 2022 Indian Challenger Elite and 2022 Chieftain Elite, enhancing its elite bike lineup with exclusive features. Only 200 Challenger Elites and 150 Chieftain Elites are available globally, showcasing premium design, advanced technology, and powerful engines. The Challenger Elite offers a liquid-cooled 108 cubic-inch engine with 122 horsepower, while the Chieftain Elite features an air-cooled Thunderstroke 116 engine with 126 ft-lbs of torque. Prices start at
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