Polaris Inc. cuts fiscal 2024 earnings guidance by 65% and expects a 20% sales decline.
Polaris Inc. has lowered its fiscal 2024 earnings guidance, projecting a 65% decline in adjusted earnings per share, compared to a previous forecast of 56-62%. Its third-quarter earnings fell short of expectations, with net income down 82% to $27.7 million. Revenue also decreased, leading to a 4% drop in shares pre-market. The company anticipates a 20% sales decline versus earlier estimates of 17-20%. Polaris specializes in powersports vehicles across various segments.
October 21, 2024
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