Polaris Industries (NYSE: PII) reported Q4 EPS of $1.83, $0.04 better than the analyst estimate of $1.79. Revenue for the quarter came in at $1.74 billion versus the consensus estimate of $1.76 billion.

• Fourth quarter reported and adjusted sales increased 7% to $1,736 million
• Fourth quarter reported net income was $1.58 per diluted share; adjusted net income for the same period was $1.83 per diluted share
• Full year reported and adjusted sales increased 12% to $6,783 million
• Full year 2019 reported net income was $5.20 per diluted share; adjusted net income for the same period was $6.32 per diluted share, exceeding the high-end of previously issued guidance
• North American retail sales increased 2% for the quarter compared to last year; ORV N.A. retail sales were up low-single digits percent, Indian motorcycles retail sales were up low-single digits percent

CEO Commentary

"We ended the year with positive fourth quarter retail momentum in both Off-Road Vehicles and Motorcycles, supporting strong full year, broad-based sales growth of 12 percent. While TAP grew modestly in the fourth quarter, non-TAP Parts, Garments and Accessories (PG&A) and aftermarket sales stole the show, eclipsing $1 billion for the first time in 2019. Our recent leadership changes were made to spur both tactical and strategic growth, and the 37 percent increase in Indian Motorcycle sales in the fourth quarter, driven largely by the Indian Challenger, demonstrates what is possible as Mike Dougherty takes over that important segment. Steve Menneto is aggressively moving to accelerate retail performance in Off-Road Vehicles and Snowmobiles, building off a strong year of financial performance in our largest business. In 2019, we delivered strong operational performance across Polaris, especially productivity and delivery, and we expect further gains to create value for customers and shareholders in the year ahead. Our commitment to being a customer-centric highly profitable growth company is unwavering, and I am extremely confident in this Polaris team to deliver on that promise."

GUIDANCE:

Polaris Industries sees FY2020 EPS of $6.80-$7.05, versus the consensus of $6.84.

The Company announced its sales and adjusted earnings guidance for the full year 2020. Sales are expected to increase in the range of 2 percent to 4 percent over 2019 adjusted sales of $6,783 million and adjusted net income is expected to be in the range of $6.80 to $7.05 per diluted share for the full year 2020 compared to adjusted net income of $6.32 per diluted share for 2019. While the negative impact of tariffs remains a significant headwind on an annualized basis, the year-over-year impact is expected to be minimal to the Company’s 2020 full year earnings guidance.

For earnings history and earnings-related data on Polaris Industries (PII) click here.