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.
Polaris Slingshot has unveiled its 2022 model lineup, featuring the reintroduction of the popular SLR model and several new accessories aimed at enhancing personalization. The lineup includes a new Vented Sport Hood for improved aerodynamics, and a competitively priced Excursion Top for better comfort. Additionally, Brembo brakes will now be standard on R models. Pricing ranges from
Polaris Inc. (NYSE: PII) has partnered with Qmerit to offer home charging installation services for its electric vehicle customers in the U.S. This collaboration aims to provide a streamlined installation solution for the RANGER XP Kinetic, Polaris's new electric model. Customers will benefit from Qmerit's extensive network of certified electricians, ensuring a convenient charging solution. Polaris emphasizes that this partnership enhances customer experience while transitioning to electric offerings.
Polaris introduces the all-new RANGER XP Kinetic, an electric utility vehicle (UTV) developed in partnership with Zero Motorcycles. This UTV boasts an industry-leading 110 HP and 140 lb-ft of torque, enabling it to tow up to 2,500 lbs and haul 1,250 lbs. The Premium model starts at $24,999 with a 45-mile range, while the Ultimate trim starts at $29,999 and offers an 80-mile range. The electric powertrain minimizes maintenance, promising a 70% reduction in scheduled costs compared to gas vehicles. Reservations begin December 1 with first shipments in Summer 2022.
Polaris Inc. (NYSE: PII) has formed a groundbreaking partnership with EA® to become the Official Off-Road Vehicle Partner of Battlefield™ 2042. This collaboration allows players to operate the Polaris Sportsman ATV in the game, enhancing player experience. To celebrate, Polaris and EA are hosting a six-week giveaway featuring a custom Polaris Sportsman XP 1000 as the grand prize, valued at nearly $30,000. The gaming industry is projected to reach $200 billion by 2023, while the powersports market is expected to exceed $25 billion by 2027.
Polaris Inc. has unveiled the all-new RZR family, including the RZR Pro R and RZR Turbo R, which set new standards in off-road vehicle performance. The RZR Pro R features a powerful 225-horsepower 2.0L engine and advanced suspension technology. With a wide stance and reinforced chassis, both models provide superior power, strength, and control. Pricing starts at $31,999 for the RZR Pro R and $25,999 for the RZR Turbo R. The new models also offer over 70 accessories for customization, aimed at enhancing the user experience across various terrains.
Polaris Inc. (NYSE: PII) has announced a $120,000 donation through its T.R.A.I.L.S. Grant Program, aimed at enhancing off-road trail systems in the U.S. A total of 12 nonprofit organizations received $10,000 each to support trail stewardship and rider education for safe riding practices. Since its inception in 2006, the program has awarded nearly $3 million to 335 organizations. Polaris emphasizes its commitment to promoting responsible riding and environmental preservation.
Indian Motorcycle has unveiled its 2022 model year lineup, featuring advanced technology and accessories across its motorcycle ranges. Key updates include a new Ride Command speed limit overlay that shows current speed limits on the navigation screen, improved Bluetooth compatibility, and enhanced traction control for the Challenger models. Additionally, the 2022 lineup showcases fresh colors for existing models and introduces the Spirit Lake Luggage Collection for enhanced storage. Pricing starts from
Polaris Inc. (NYSE: PII) has declared a quarterly cash dividend of
Polaris Inc. (NYSE: PII) has announced a $1 million grant to Central Lakes College in Minnesota to develop the Service Technician Education Program (STEP), aimed at training 80 student technicians in powersports. The program connects students with Power Lodge dealerships for hands-on experience while completing their education. This initiative addresses the technician labor shortage and promotes diversity in the workforce. Polaris expects the program to commence in the 2022-2023 academic year, enhancing the skills needed for a rapidly evolving industry.
Polaris Inc. (NYSE: PII) reported Q3 2021 sales of $1,960 million, slightly up from last year, with a net income of $114.6 million or $1.84 per share, down 31% year-over-year. Gross profit margin fell to 23.8%, impacted by rising input costs and supply chain issues. North American retail sales dropped 24% due to product availability constraints. Polaris lowered its full-year adjusted earnings guidance to approximately $9.00 per share, despite a projected 16% increase in sales. The company plans to divest its Global Electric Motorcar and Taylor-Dunn segments by year-end.
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