Polaris Shares Slip After Revenue Miss: Here's What Added Pressure On The Results
Portfolio Pulse from Shivani Kumaresan
Polaris Inc (NYSE:PII) reported a 4% YoY decline in Q3 FY23 sales to $2.25 billion, missing analyst consensus estimates. The company's sales were negatively impacted by lower shipment volumes and higher finance interest. Sales from Off-Road segment rose 6%, On Road segment dropped 19%, and Marine slumped 48%. Adjusted EPS of $2.71 beat the analyst consensus estimate of $2.69. The company cut its FY23 sales outlook to +3% - +5% and slashed adjusted EPS guidance to -8% - -4%. PII shares are trading lower by 4.33% at $88 in premarket on Tuesday.

October 24, 2023 | 2:14 pm
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Polaris Inc reported lower than expected Q3 FY23 sales and cut its FY23 sales outlook and EPS guidance. This has led to a drop in its share price.
Polaris Inc reported a decline in Q3 FY23 sales and missed analyst consensus estimates. The company also cut its FY23 sales outlook and EPS guidance. These factors have negatively impacted investor sentiment, leading to a drop in the company's share price.
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