Polaris Q1 Net Income Declines, Reiterates 2024 Sales, Adjusted Earnings Guidance

(RTTNews) - Polaris Inc. (PII) reported that its first quarter net income attributable to Polaris declined to $3.8 million from $113.4 million, last year. Earnings per share was $0.07 compared to $1.95. Adjusted EPS was $0.23 compared to $2.05. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.06, for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, worldwide sales were $1.74 billion, down 20 percent versus the first quarter of 2023. Analysts on average had estimated $1.75 billion in revenue.

The company continues to expect 2024 sales to be down five to seven percent versus 2023. The company continues to expect adjusted EPS attributed to Polaris shareholders to be down 10 to 15 percent versus 2023.

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