Polaris Inc. - PII STOCK NEWS

Polaris has partnered with Rhino-Rack® to launch premium storage solutions for RANGER and GENERAL off-road vehicles. This collaboration, announced on July 29, 2021, introduces innovative roof and bed racks designed for versatility and easy installation. The storage solutions are crafted with durable materials and rigorously tested for off-road conditions, enhancing cargo capacity and organization for outdoor enthusiasts. The products will be available online and through local dealers, marking a significant step in Polaris' commitment to enhancing the adventure lifestyle for its customers.

Polaris has launched the all-new RANGER SP 570, enhancing its leading RANGER lineup. This model boasts improved capability, comfort, and a larger cargo box, making it ideal for farmers, ranchers, and outdoor enthusiasts. The RANGER SP 570 is available in various models starting at $10,499, with the NorthStar Edition priced at $16,999. With a class-leading 44 horsepower engine, it can tow up to 1,500lbs. The redesign focuses on user comfort, featuring better legroom and storage space, while also offering customization options with 40 new accessories.

Polaris Inc. (NYSE: PII) reported a strong Q2 2021 with sales of $2,117 million, a 40% increase from $1,512 million in Q2 2020. Net income reached $158 million, or $2.52 per diluted share, a significant recovery from a net loss of $235 million in the same quarter last year. Adjusted net income was $169 million, up from $81 million. Gross profit rose 66% to $551 million, driven by increased volume and favorable pricing, despite challenges from supply chain constraints. The company raised its full-year earnings guidance to $9.35 to $9.60 per diluted share, up from last year's $7.74.

Polaris Inc. (NYSE: PII) will release its second quarter 2021 financial results on July 27, 2021, followed by a conference call at 9:00 a.m. CT to discuss the outcomes. Hosted by CEO Mike Speetzen and CFO Bob Mack, the call will be accessible via phone or through a webcast on the Polaris Investor Relations website. A replay will also be available post-call. Polaris, a leader in the Powersports sector, reported 2020 sales of $7.03 billion.

Indian Motorcycle has launched 14 new rental locations across the U.S. and Canada, expanding its affiliate network to a total of 25 locations in key riding destinations. This initiative allows riders to rent motorcycles for durations ranging from four hours to a week, featuring the latest models, including the new Indian Chief and refined 2022 FTR lineup. Each rental includes damage coverage, and riders must have a valid motorcycle license. The expansion aims to meet increasing demand as motorcycling popularity rises post-pandemic.

The RZR Factory Racing team achieved significant success at the 53rd BFGoodrich SCORE Baja 500, winning three races and securing seven podiums across multiple UTV classes. Branden Sims excelled in the Pro UTV Forced Induction category, taking the overall UTV victory with a time of 12:53:15. Other racers, including Kaden Wells and Mike Cafro, also secured class wins. The event demonstrated the team's continuing dominance in UTV racing, following a strong performance at the San Felipe 250.

Polaris Inc. (NYSE: PII) has announced a landmark partnership with the National Forest Foundation (NFF), pledging $5 million over five years to enhance outdoor recreation and forest conservation. This investment, the largest single private commitment in NFF's history, will fund grants for projects that restore trails, improve wildlife habitats, and protect watersheds. Annually, $1 million will be allocated as part of the Polaris Fund for Outdoor Recreation. The initiative aims to strengthen community connections to National Forests while continuing Polaris' commitment to environmental stewardship.

Polaris Inc. (NYSE: PII) announced a new initiative coinciding with National Get Outdoors Day on June 12, aimed at encouraging people to connect with nature. The campaign invites consumers to take the OFFLINER pledge, promoting outdoor activities to reduce screen time, which averages 13 hours daily. Research indicates an 82% increase in searches for outdoor activities since 2019. Participants have a chance to win outdoor experiences through Polaris Adventures. The initiative aligns with Polaris’s mission to enhance outdoor experiences, reflecting a growing consumer interest in nature.

Polaris Inc. (NYSE: PII) has appointed Chris Wolf as Chief Product Excellence, Quality and Safety Officer, succeeding Todd Gross, who retires after enhancing product safety strategies. Wolf, with nearly 20 years at Polaris, will lead the Global Product Safety and Quality team. Additionally, John Stockman has been named Vice President and General Manager of Snow, succeeding Wolf, after a successful year in the Snow business. CEO Mike Speetzen emphasizes the importance of product safety and quality as a competitive advantage.