Arctic Cat (ACAT) Misses Q1 EPS Views; Updates FY17 Outlook

Arctic Cat (NASDAQ: ACAT) reported Q1 EPS of ($0.61), $0.25 worse than the analyst estimate of ($0.36). Revenue for the quarter came in at $104.9 million versus the consensus estimate of $117.81 million.

Sales of Arctic Cat’s all-terrain vehicles (ATVs) and recreational off-highway vehicles (ROVs) in the 2017 first quarter totaled $43.7 million, down 17.3 percent compared to prior-year sales of $52.9 million. While sales of Arctic Cat’s side-by-side ROVs remained strong, including the Wildcat™, core ATV sales decreased as planned, as the company continued to lower core ATV inventory at its North America dealers. The company succeeded in decreasing ATV/ROV dealer inventory by approximately 9 percent in the fiscal 2017 first quarter.

As part of Arctic Cat’s aggressive new product development plans, the company introduced the first wave of its 2017 model year ATVs and ROVs, including six all-new models and a total of 27 class-leading machines for all categories of off-road work and play. These new 2017 models include the versatile and powerful HDX™ Crew six-passenger utility vehicle, the Prowler utility vehicle and the Alterra™ TRV® with 2-up passenger seating.

GUIDANCE:

Arctic Cat sees FY2017 EPS of ($1.00)-($0.70).

For earnings history and earnings-related data on Arctic Cat (ACAT) click here.

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