POLARIS INC. Click here to download the detailed report: POLARIS Second Quarter 2021 Earnings Results
Financial and Operational Highlights
Second quarter reported and adjusted sales increased 40% to $2,117 million, a second quarter sales record
Second quarter reported net income was $2.52 per share; adjusted net income for the same period was $2.70 per share
Gross profit margin, reported and adjusted, for the second quarter was 26.0% and 26.1%, up 403 and 311 basis points over the prior year, respectively. The increase was primarily due to lower promotional costs and increased pricing, partially offset by increased input costs including supply chain constraints, logistic, labor and commodity prices
North American retail sales decreased 28% for the quarter compared to uncharacteristically strong retail sales last year, driven largely by low product availability due to supply chain constraints limiting production. On a two-year basis, retail sales were up 14% over second quarter 2019 pre-COVID levels
Market share improved during the quarter for ORV and boats
Polaris repurchased approximately 0.8 million shares of Polaris stock during the quarter for $111 million
Polaris increased its full-year 2021 earnings guidance and now expects earnings to be in the range of $9.35 to $9.60 per diluted share. Full-year 2021 adjusted sales guidance was narrowed and is now expected to be up 19% to 21% over the prior year
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Polaris Industries Inc. published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 11:09:11 UTC.
