Polaris Industries 3Q Net Income Up 43 Percent

MINNEAPOLIS (AP) — Shares of Polaris Industries Inc. fell Tuesday despite a 43 percent increase in its third-quarter profit and raising its outlook for the full year.

The Medina, Minn., company reported revenue and market share gains in all of its businesses, which include making all-terrain vehicles and snowmobiles.

But its stock fell $4.66, or 8 percent, to $53.84 in afternoon dealings after trading as high as $57.21 earlier in the session.

The shares still are close to the upper end of their 52-week range. They traded as high as $61.50 in late July, and their low was $33.92 reached a year ago.

BMO Capital Markets analyst Gerrick Johnson said in an e-mail Tuesday that Polaris’ stock price rose before the company’s late-morning conference call with analysts, but ran into resistance from investors as it neared $59 to $60 per share. Also, although the company raised its earnings guidance for the full year, the increase was smaller than how much Polaris beat analysts’ estimates for the third quarter, Johnson wrote.

Polaris spokesman Richard Edwards would not comment on the company’s stock price.

The company reported net income of $67.6 million, or 95 cents per share, for the three months ended Sept. 30. That’s up from $47.2 million, or 69 cents per share, a year earlier.

Revenue increased 26 percent to $729.9 million from $580.1 million a year ago.

Analysts polled by FactSet had expected earnings of 85 cents per share on revenue of $697.1 million.

Polaris said revenue from off-road vehicles jumped 25 percent and on-road vehicle revenue jumped 77 percent. Revenue from snowmobiles rose 23 percent, while parts and accessories gained 21 percent.

Polaris increased its earnings forecast for 2011 to $3.10 to $3.16 per share, up from earnings of $2.14 per share in 2010. Full-year sales are expected to rise 30 to 32 percent over 2010.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Jimboo

    Awesome for them and their shareholders. They make some really fun stuff.
    If you have BSX stock lose it it will only go down.

  • Tim

    Polaris is number 1 ! YEAH !

  • Kevin

    Thats what you get when you move your operations to a 3rd world country and pay your workers a dollar a day! Polaris sucks…..and your morons if you buy from them.

    • randy

      I thought they manufactured in wisconsin, minnesota, iowa, and south dakota.

  • t

    Is it a crime to be sucessful

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