Polaris Turns To Profit In Q2, Tops Estimates; Lifts FY21 Earnings View Above Market

(RTTNews) - Motor vehicle manufacturer Polaris Inc (PII) reported Tuesday that its second-quarter net income attributable to the company was $158.4 million or $2.52 per share, compared to last year's loss of $235.4 million or $3.82 per share.

Adjusted net income was $169 million or $2.70 per share, compared to $81 million or $1.30 per share a year ago.

Second-quarter sales increased 40 percent to $2.12 billion from last year's $1.51 billion.

On average, analysts polled by Thomson Reuters expected earnings of $2.18 per share on sales of $2.1 billion. Analysts' estimates typically exclude special items.

Looking ahead, Polaris increased its full year 2021 earnings guidance and now expects earnings to be in the range of $9.35 to $9.60 per share, while analysts expect $9.26 per share. Full year 2021 adjusted sales guidance was narrowed and is now expected to be up 19 percent to 21 percent over the prior year.