Polaris, the renowned manufacturer of off-road and all-terrain vehicles, is scheduled to release its fourth-quarter financial results on Tuesday. Analysts anticipate a decline in quarterly sales for the company. Here's a breakdown of what you need to know:
According to a consensus of 12 analysts surveyed by FactSet, Polaris is projected to report a profit of $146.7 million, compared to $195.5 million during the same period last year.
Fifteen analysts surveyed expect Polaris to report adjusted earnings of $2.57 per share.
Based on a survey of 15 analysts by FactSet, Polaris is expected to disclose fourth-quarter sales of $2.25 billion.
The company's stock price experienced a 9% decrease over the quarter and is currently trading at $91.69 per share.
What to Watch For
Polaris is set to unveil its outlook for 2024 on Tuesday. Analysts at D.A. Davidson predict that the company's guidance will emphasize the latter half of the year. They draw parallels between Polaris and boat manufacturers, who are currently grappling with excess inventory among dealerships, leading them to regulate production.
In addition to reporting fourth-quarter results, Polaris executives are likely to provide insights into January's sales performance. According to the Davidson analysts, off-road vehicle dealerships have experienced a slowdown in momentum compared to December. "January retail trends have been especially disappointing for dealers given PII is offering larger rebates compared to January 2023," stated the analysts in a recent note.
Stock futures slide as the S&P 500 extends its losing streak, with earnings reports impacting major companies. Earnings surprises for Applied Materials and Ross...
Consumer price growth is expected to have decelerated in September, primarily due to a drop in gasoline prices. However, core inflation, which excludes food and...
Blackboxstocks shares drop by 30% after acquiring Evtec Aluminium, following a previous merger announcement with Evtec Group. Shareholders maintain 26.7% owners...