logo
  

Polaris Turns To Profit In Q2, Tops Estimates; Lifts FY21 Earnings View Above Market

Motor vehicle manufacturer Polaris Inc (PII) reported Tuesday that its second-quarter net income attributable to the company was $158.4 million or $2.52 per share, compared to last year's loss of $235.4 million or $3.82 per share.

Adjusted net income was $169 million or $2.70 per share, compared to $81 million or $1.30 per share a year ago.

Second-quarter sales increased 40 percent to $2.12 billion from last year's $1.51 billion.

On average, analysts polled by Thomson Reuters expected earnings of $2.18 per share on sales of $2.1 billion. Analysts' estimates typically exclude special items.

Looking ahead, Polaris increased its full year 2021 earnings guidance and now expects earnings to be in the range of $9.35 to $9.60 per share, while analysts expect $9.26 per share. Full year 2021 adjusted sales guidance was narrowed and is now expected to be up 19 percent to 21 percent over the prior year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Velvet Ice Cream recalled certain lots of its 56 oz Raspberry Fudge Cordial Ice Cream for potentially containing undeclared peanuts, the U.S. Food and Drug Administration or FDA said in a statement. The recall was initiated after it was notified of the issue by a single customer and has since learned that the cause of the error has been traced to a third-party manufacturer packaging error. Willard, Ohio-based Buurma Farms Inc. is recalling 320 boxes of its Plain Parsley citing possible contamination with Shiga-toxin producing E.coli, the U.S. Food and Drug Administration said. The recall involves Buurma Plain (flat leaf) Parsley with a harvest date of August 30, 2021 from their Gregory, Michigan location. Molson Coors Beverage Co. is bringing Topo Chico Hard Seltzer, the sparkling mineral water, across the United States starting January 2022. The company will officially expand the distribution of the product, which was launched last spring in nine states and seven metro areas, to all 50 states. Molson Coors is manufacturing, marketing and distributing Topo Chico Hard Seltzer in the U.S.
RELATED NEWS
Follow RTT