ELKHART, Ind., Oct. 30, 2024 /PRNewswire/ -- Hurricane Boats redefines category with its brand-new 24CC Center Console. Punching well above its weight class with features, ride and functionality for a 24-foot boat, the Hurricane 24CC was designed from the ground-up as a family-friendly boat that is equally in its element as a platform for fishing, tow sports or day cruising. One of the most versatile boats in its segment, the new highperformance model flawlessly maintains the Hurricane DNA of exceptional se ...

Investors looking for stocks in the Automotive - Domestic sector might want to consider either General Motors (GM) or Polaris Inc (PII) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out. We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimat ...

TORONTO, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSX – V: HPM) (the "Company" or "Halcones") is pleased to announce it has entered into binding agreements to acquire a 100% interest in the Polaris Project ("Polaris" or the "Project") from Austral Exploraciones SpA ("Austral"), a privately owned Chilean exploration company (the "Transaction"). Polaris is a highly prospective project with multiple past-producing, high grade gold mines and extensive gold mineralization identified in s ...

Timing just isn't on the side of such manufacturers at the moment.One of the more interesting niches in the mighty automobile industry is specialty vehicles. After all, consumers don't only want cars, trucks, and motorcycles for everyday use, they also like zipping around on off-road machines and going airborne with purpose-built, next-generation aircraft. Yet the specialty business is at times even more cyclical than mainstream auto, and on discouraging recent news the cycle seemed to be approaching a low. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11411 POLARIS INC. (Exact name of registrant as specified in its charter) Delaware 41-1790959 (State or othe ...

Core Insights - Polaris is facing a tough consumer market, leading to a significant decline in sales and stock performance [1] - The company reported third-quarter earnings of $0.73 per share on sales of $1.72 billion, missing Wall Street estimates [2] - Year-over-year sales decreased by 23%, and gross profit margin fell by 204 basis points to 20.6% [2] - Polaris anticipates a challenging retail environment continuing into 2024 and has adjusted its full-year revenue outlook [3] Financial Performance - Third-quarter earnings were $0.73 per share, below the expected $0.88 per share [2] - Sales totaled $1.72 billion, falling short of the $1.77 billion estimate [2] - The company expects a 65% decline in earnings per share compared to 2023 [3] Market Conditions - Sales were impacted by lower product volumes, negative product mix, and increased promotional activity [2] - Polaris plans to reduce dealer inventory by 15% to 20% by year-end in response to market conditions [2] - The company has cut its full-year revenue outlook to a decline of 20% [3] Strategic Outlook - CEO Mike Speetzen emphasized the commitment to innovation and cost reduction to strengthen the company [2] - Despite current challenges, Polaris aims for long-term growth and margin expansion [2] - The stock has declined over 20% year-to-date, presenting a potential buying opportunity for investors [3]

Polaris Inc (PII) reported $1.72 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 23.4%. EPS of $0.73 for the same period compares to $2.71 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of -2.88%. The company delivered an EPS surprise of -16.09%, with the consensus EPS estimate being $0.87.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Polaris Inc (PII) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $2.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.09%. A quarter ago, it was expected that this snowmobile and ATV maker would post earnings of $2.27 per share when it actually produced earnings of $1.38, delivering a surprise of -39.21%.Over the last four quarters ...

Financial Results - Polaris Inc. reported its third quarter 2024 financial results, which were made available through an earnings release on the Company's Investor Relations website [1] - The earnings release will be furnished with the Securities and Exchange Commission on a Form 8-K [1] Conference Call and Webcast - A conference call with analysts and investors is scheduled for today at 9:00 a.m. CT [1] - The call and webcast can be accessed via the Webcast link on the Company's website or by dialing specific numbers for U.S. and international participants [2] - Related presentation materials and a replay of the webcast will also be accessible on the Company's website [2] Company Overview - Polaris Inc. is recognized as the global leader in powersports, offering a diverse range of products including off-road vehicles, snowmobiles, motorcycles, and boats [3] - The Company has been in operation since 1954 and serves nearly 100 countries worldwide [3] - Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories [3]

[Third Quarter 2024 Earnings Results](index=1&type=section&id=Third%20Quarter%202024%20Earnings%20Results) Polaris experienced a significant downturn in Q3 2024, with sales and earnings per share declining sharply due to challenging market conditions [Financial and Operational Highlights](index=1&type=section&id=FINANCIAL%20AND%20OPERATIONAL%20HIGHLIGHTS) Polaris reported a **23% sales decline** to **$1.72 billion** in Q3 2024, with significant drops in EPS and market share, leading to lowered full-year guidance Q3 2024 Key Performance Indicators vs. Q3 2023 | Metric | Q3 2024 Value | Year-over-Year Change | | :--- | :--- | :--- | | Sales | $1,722 million | -23% | | Reported Diluted EPS | $0.49 | -81% | | Adjusted Diluted EPS | $0.73 | -73% | | Powersports Retail Sales | N/A | -7% | - Key factors negatively impacting sales were lower volume, product mix, and increased promotional activity[1](index=1&type=chunk) - Market share experienced a modest decline in off-road vehicles (ORV), motorcycles, and pontoons during the quarter[1](index=1&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20COMMENTARY) The CEO emphasized managing dealer inventory and driving cost efficiencies amidst a challenging retail environment expected to persist into 2025 - The company is prioritizing the health of its dealer network by anchoring production and shipment plans to a goal of lowering dealer inventory by **15% to 20%** by the end of 2024[3](index=3&type=chunk) - Management anticipates a challenging retail environment to persist through the remainder of 2024 and into the next year[3](index=3&type=chunk) - The company is focused on driving cost efficiencies in manufacturing and operations to emerge stronger and achieve long-term growth and margin expansion[3](index=3&type=chunk) [Overall Performance Summary](index=1&type=section&id=PERFORMANCE%20SUMMARY%20%28Reported%29) Worldwide sales decreased **23%** to **$1.72 billion** in Q3 2024, with net income plummeting **82%** and gross profit margin contracting by **204 basis points** Q3 2024 Financial Performance (Reported vs. Adjusted) | Metric | Reported Value | YoY Change | Adjusted Value | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Worldwide Sales | $1,722M | -23% | $1,722M | -23% | | Net Income | $28M | -82% | $41M | -74% | | Diluted EPS | $0.49 | -81% | $0.73 | -73% | | Gross Profit Margin | 20.6% | -204 bps | 20.8% | -184 bps | - North American sales decreased **26%** to **$1,473 million**, representing **85%** of total company sales, while International sales decreased **5%** to **$250 million**[4](index=4&type=chunk) - Operating expenses as a percentage of sales increased by **355 basis points** to **18.1%** compared to Q3 2023[5](index=5&type=chunk) [Segment Highlights](index=2&type=section&id=SEGMENT%20HIGHLIGHTS%20%28Reported%29) All segments experienced significant sales declines in Q3 2024, with Marine seeing the steepest drop at **36%** and the largest gross profit margin contraction Q3 2024 Segment Sales and Gross Profit Margin Performance | Segment | Sales (in millions) | YoY Change | Gross Profit Margin | Change (bps) | | :--- | :--- | :--- | :--- | :--- | | Off Road | $1,400.0 | (24)% | 21.2% | -183 bps | | On Road | $236.5 | (13)% | 16.9% | -446 bps | | Marine | $85.9 | (36)% | 12.2% | -587 bps | [Off Road](index=2&type=section&id=Off%20Road) Off Road segment sales declined **24%** to **$1.4 billion** due to lower volume, negative mix, and increased promotional spending, impacting gross profit margin - Sales decline was driven by lower volume, mix, and higher promotional spend, with PG&A (Parts, Garments & Accessories) sales decreasing by **18%**[6](index=6&type=chunk) - Polaris North America ORV unit retail sales were down **3%**, while the estimated North America industry ORV unit retail sales were down low-single digits percent[6](index=6&type=chunk) [On Road](index=2&type=section&id=On%20Road) On Road segment sales decreased **13%** to **$236.5 million** due to lower volumes, with gross profit margin contracting **446 basis points** from negative product mix - Sales were primarily driven down by lower volumes, with PG&A sales decreasing by **7%**[7](index=7&type=chunk) - North America unit retail sales for Indian Motorcycle were down low-double digits, while the comparable industry was down high-single digits[7](index=7&type=chunk) [Marine](index=2&type=section&id=Marine) Marine segment sales plummeted **36%** to **$85.9 million** due to lower volumes, resulting in a sharp **587 basis point** decline in gross profit margin - Sales results were driven by lower volumes[7](index=7&type=chunk) - Gross profit margin performance was impacted by a decrease in sales volumes and negative mix[7](index=7&type=chunk) [2024 Business Outlook](index=2&type=section&id=2024%20BUSINESS%20OUTLOOK) Polaris lowered its full-year 2024 guidance, now expecting sales to be down approximately **20%** and adjusted diluted EPS to decline approximately **65%** Updated Full-Year 2024 Guidance vs. Prior Guidance | Metric | Updated 2024 Outlook (vs. 2023) | Prior 2024 Outlook (vs. 2023) | | :--- | :--- | :--- | | Sales | Down approx. 20% | Down 17% to 20% | | Adjusted Diluted EPS | Down approx. 65% | Down 56% to 62% | [Financial Statements and Reconciliations](index=3&type=section&id=Financial%20Statements%20and%20Reconciliations) This section presents the consolidated financial statements and detailed reconciliations of GAAP to non-GAAP financial measures [Consolidated Statements of Income](index=4&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20INCOME) Q3 2024 income statement shows sales of **$1.72 billion** and net income of **$27.7 million**, both significantly lower than the prior year Q3 2024 vs Q3 2023 Income Statement Highlights (In Millions) | Account | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Sales | $1,722.4 | $2,248.9 | | Gross Profit | $354.6 | $508.8 | | Operating Income | $66.1 | $201.1 | | Net Income Attributable to Polaris Inc. | $27.7 | $151.7 | [Consolidated Balance Sheets](index=5&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of September 30, 2024, total assets were **$5.63 billion**, with inventories decreasing to **$2.00 billion** and total liabilities also declining Balance Sheet Highlights (In Millions) | Account | Sept 30, 2024 | Sept 30, 2023 | | :--- | :--- | :--- | | Total Current Assets | $2,728.2 | $3,043.3 | | Inventories, net | $1,998.9 | $2,051.7 | | Total Assets | $5,629.7 | $5,733.0 | | Total Current Liabilities | $2,252.7 | $2,438.3 | | Total Liabilities | $4,274.8 | $4,386.6 | | Total Equity | $1,345.5 | $1,335.2 | [Consolidated Statements of Cash Flows](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash from operating activities for the nine months ended September 30, 2024, sharply decreased to **$61.9 million** from **$376.0 million** in 2023 Cash Flow Highlights for Nine Months Ended Sept 30 (In Millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $61.9 | $376.0 | | Net cash used for investing activities | ($218.2) | ($345.9) | | Net cash provided by (used for) financing activities | $82.8 | ($61.4) | | Net decrease in cash | ($76.5) | ($29.2) | [Reconciliation of GAAP to Non-GAAP Measures](index=7&type=section&id=NON-GAAP%20RECONCILIATIONS) This section reconciles GAAP to non-GAAP figures, detailing adjustments for restructuring, acquisition costs, and intangible amortization impacting net income and EPS Q3 2024 GAAP to Non-GAAP Reconciliation (In Millions, Except EPS) | Metric | GAAP | Adjustments | Non-GAAP (Adjusted) | | :--- | :--- | :--- | :--- | | Gross Profit | $354.6 | $3.2 | $357.8 | | Net Income | $27.7 | $13.5 | $41.2 | | Diluted EPS | $0.49 | $0.24 | $0.73 | - For Q3 2024, the company recorded non-GAAP adjustments totaling **$12.0 million** for restructuring and acquisition-related costs[19](index=19&type=chunk) - The company also made a non-GAAP adjustment for **$4.4 million** of intangible amortization related to historical acquisitions in Q3 2024[20](index=20&type=chunk)