Polaris Inc (PII)

Polaris Industries Stock (PII) dropped by 2.69% from $91.98 to $89.51 in the trading on Tuesday October 24, 2023. The reason why PII stock down today is due to its missed Q3 2023 earnings.

• Third-quarter FY23 sales decline of 4% year-on-year to $2.25 billion. Polaris missed the analyst consensus estimate of $2.25 billion. Total sales in the third quarter of 2023 were negatively impacted by lower shipment volumes and higher finance interest.
• Adjusted EPS of $2.71 beat the analyst consensus estimate of $2.69. Gross profit for the quarter increased 6.5% Y/Y to $505 million
• The operating expenses increased 3.5% to $328 million. Elevated manufacturing costs and an increasingly cautious consumer environment put added pressure on the results.