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Why is Polaris Inc (PII) Stock down?
We've noticed a 5.48% decline in Polaris Inc (PII) stock during the 2024-04-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
24 Oct, 2023:
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.
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