POLARIS INC.

(PII)
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Delayed Nyse  -  05/27 04:00:01 pm EDT
107.25 USD   +1.98%
05/27Exclusive-Japanese buyout firms JIP, Polaris considering bids for Toshiba - sources
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05/24Polaris Infrastructure to Ask Shareholders to Approve a Name Change to Polaris Renewable Energy
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05/05Polaris Names Ben Duke President of Its Marine Business
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Polaris Announces Expansion of Unsecured Term Loan Under Existing Credit Facility to Further Support Capital Allocation Strategy

12/23/2021 | 10:22am EDT

MINNEAPOLIS, MN - Polaris Inc. (NYSE: PII) today announced that it has entered into an incremental $500 million 364-day unsecured term-loan facility, further enhancing the Company's strong liquidity position.

'We remain committed to prudently managing the Company's financial resources for the long-term by expanding our credit facility and taking advantage of the historically low interest rates and favorable margins for credit advances. The proceeds will be used for general corporate purposes, providing additional flexibility to execute our capital allocation priorities of organic growth investments in our businesses and the execution of our $1 billion share repurchase authorization. Our disciplined capital allocation strategy has driven significant value creation for our investors long-term, and we appreciate the support of our long-standing banking partners in this endeavor,' said Bob Mack, Polaris' Executive Vice President and Chief Financial Officer.

U.S. Bank National Association served as administrative agent for the new term-loan agreement.

About Polaris

As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With annual 2020 sales of $7.0 billion, Polaris' high-quality product line-up includes the Polaris RANGER, RZR and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; snowmobiles; and deck, cruiser and pontoon boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris' presence in adjacent markets includes military and commercial off-road vehicles, quadricycles, and electric vehicles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com

Media Contact:

Jessica Rogers

Phone: 763.513.3445

Jessica.Rogers@polaris.com

Investor Relations Contact:

Richard Edwards

Phone: 763.513.3477

Richard.Edwards@polaris.com

(C) 2021 Electronic News Publishing, source ENP Newswire

All news about POLARIS INC.
05/27Exclusive-Japanese buyout firms JIP, Polaris considering bids for Toshiba - sources
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04/27UBS Adjusts Polaris Price Target to $160 From $164, Maintains Buy Rating
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Analyst Recommendations on POLARIS INC.
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Financials (USD)
Sales 2022 9 236 M - -
Net income 2022 579 M - -
Net Debt 2022 1 230 M - -
P/E ratio 2022 11,1x
Yield 2022 2,39%
Capitalization 6 381 M 6 381 M -
EV / Sales 2022 0,82x
EV / Sales 2023 0,75x
Nbr of Employees 16 000
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 107,25 $
Average target price 132,42 $
Spread / Average Target 23,5%
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Managers and Directors
Michael Todd Speetzen Chief Executive Officer & Director
Robert P. Mack Chief Financial Officer
John P. Wiehoff Chairman
Steven J. Kemp Vice President-Technology, Electronics & Software
Matthew J. Emmerich Chief Information Officer & Vice President
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