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 Inc. (NYSE: PII) has announced a 2% increase in its quarterly cash dividend, raising it to $0.63 per share. This marks the 26th consecutive year of dividend increases. The first quarter dividend is payable on March 15, 2021, with a record date of March 1, 2021. The company reported generating over $1 billion in cash flow for 2020, asserting confidence in its strong financial position despite global challenges. Polaris remains a Dividend Aristocrat, committed to delivering consistent capital returns to shareholders.
Indian Motorcycle has unveiled enhancements to its popular FTR platform for 2022, aiming to improve performance and rider experience. The updates include a refined engine calibration for better throttle response, along with new 17-inch cast aluminum wheels fitted with Metzeler Sportec tires, enhancing handling and comfort. The lineup features models starting from $12,999 for the base FTR, with advanced options like the FTR R Carbon priced at $16,999. The new models are set to begin shipping to dealers in spring 2021.
Polaris Inc. (NYSE: PII) reported strong Q4 2020 financial results, with sales of $2,156 million, a 24% increase YoY. Net income reached $199 million, up 101%, with diluted EPS of $3.15. Adjusted gross profit also rose significantly, reflecting strong demand across Powersports. Operating expenses decreased slightly, while cash flow improved, with net cash from operations totaling $1,019 million for the year. The company anticipates 2021 sales between $7,950 million and $8,150 million, reflecting a 13-16% growth driven by increasing outdoor recreation activities.
Polaris has unveiled three new limited-edition off-road vehicles aimed at hunters and ATV enthusiasts. The 2021 RANGER XP 1000 Big Game Edition and Waterfowl Edition, starting at $20,199, feature enhanced capabilities for hunting in rugged terrains. The Sportsman 850 Ultimate Trail Edition, priced at $11,499, combines performance with eye-catching design. These new models incorporate advanced features like high-clearance suspension, LED headlights, and specialized accessories curated by renowned hunters. Polaris continues to innovate, reinforcing its leadership in the powersports market.
Polaris Off-Road has launched the 2021 RZR Trail and Trail S models, enhancing trail adventure with new styling and advanced technology. The lineup promises improved rider comfort and agility, featuring narrower stances and shorter wheelbases for easier maneuverability. Key innovations include Ride Command with GPS navigation, factory audio by Rockford Fosgate, and 29 new custom accessories. The RZR Trail lineup starts at $13,399, while the RZR Trail S begins at $15,299. Deliveries are set for early February 2021, affirming Polaris's commitment to leading the off-road market.
Polaris Off-Road announces the addition of off-road racing champion Casey Currie to the RZR Factory Racing team as a brand ambassador. Currie, with a legacy of victories in prestigious races like the Dakar Rally and Baja 1000, will utilize the 2021 Polaris RZR Pro XP Ultimate for his racing endeavors. Currie's affiliation is expected to strengthen Polaris' product development and racing efforts, particularly as he prepares for the upcoming King of the Hammers event.
Polaris Inc. (NYSE: PII) will release its fourth quarter and full year 2020 financial results on January 26, 2021. A conference call will take place at 9:00 a.m. CT the same day, hosted by interim CEO Mike Speetzen and interim CFO Bob Mack. Investors can access a slide presentation on the Polaris Investor Relations website. Phone access for the call is available at 1-877-883-0383 (U.S.) and 1-412-902-6506 (International), using Conference ID 0080812.
Polaris Inc. (NYSE: PII) announced the appointment of Michael Speetzen as interim CEO and Bob Mack as interim CFO, effective January 1, 2021. This follows the departure of Scott Wine, the former CEO. John Wiehoff has been appointed Chair of the Board. Speetzen, previously the CFO, has played a key role in financial management and growth initiatives, while Mack brings experience from corporate development. The transition aims to ensure continuity and support ongoing strategic execution amidst the CEO search.
Polaris Off Road, a leader in powersports, is hosting a livestream event featuring Zac Brown Band on December 27 to support veterans and active military members through the Proud American Thank You initiative. The campaign encourages donations to Camp Southern Ground, with Polaris matching contributions up to $25,000. The event marks the band's first performance since the pandemic began. Zac Brown expressed gratitude for the partnership with Polaris, while Steven Menneto highlighted the company's commitment to honoring veterans.
Polaris Slingshot has unveiled significant upgrades for its 2021 model lineup, enhancing driving experience, style, and audio. Key updates include a refined AutoDrive transmission with paddle shifters and a new Rockford Fosgate audio system with Apple CarPlay integration. Notably, the 2021 models saw a nearly doubled business during peak seasons, with 80% of dealers experiencing stable or increased sales. Starting prices range from $19,999 to $34,799, depending on the model and features. Consumers can learn more about the lineup as it ships to dealers now.
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