Polaris, the renowned manufacturer of off-road and all-terrain vehicles, is scheduled to release its fourth-quarter financial results on Tuesday. Analysts anticipate a decline in quarterly sales for the company. Here's a breakdown of what you need to know:
Net Income
According to a consensus of 12 analysts surveyed by FactSet, Polaris is projected to report a profit of $146.7 million, compared to $195.5 million during the same period last year.
Adjusted Earnings
Fifteen analysts surveyed expect Polaris to report adjusted earnings of $2.57 per share.
Revenue
Based on a survey of 15 analysts by FactSet, Polaris is expected to disclose fourth-quarter sales of $2.25 billion.
The company's stock price experienced a 9% decrease over the quarter and is currently trading at $91.69 per share.
What to Watch For
2024 Outlook
Polaris is set to unveil its outlook for 2024 on Tuesday. Analysts at D.A. Davidson predict that the company's guidance will emphasize the latter half of the year. They draw parallels between Polaris and boat manufacturers, who are currently grappling with excess inventory among dealerships, leading them to regulate production.
Sales Trending
In addition to reporting fourth-quarter results, Polaris executives are likely to provide insights into January's sales performance. According to the Davidson analysts, off-road vehicle dealerships have experienced a slowdown in momentum compared to December. "January retail trends have been especially disappointing for dealers given PII is offering larger rebates compared to January 2023," stated the analysts in a recent note.
Related Articles
U.S. Stock Futures Maintain Momentum as Treasury Yields Drop
U.S. stock futures show mixed results as most of the previous day's rally is retained despite lower Treasury yields. Global economic concerns and key earnings r...
Apple Inc.'s Challenging Start to 2024
Apple Inc. has experienced declines in stock price, patent disputes, and analyst downgrades in early 2024. The company's market capitalization has decreased, an...
Twilio Inc. to Cut Workforce and Incur Severance Charges
Twilio Inc. plans to reduce its global workforce by 5% leading to severance charges of $25-35 million. The majority of charges will be recorded in Q4 2022, with...