B. Riley Downgrades Polaris Industries (PII) to Neutral
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Polaris Reports 2016 First Quarter Results
April 21, 2016 6:00 AM EDTFirst Quarter 2016 Highlights:
North American retail sales increased 6% in the quarter with Indian motorcycles up over 50%.
Dealer inventory was down year-over-year.
Motorcycle sales increased 18% during the quarter. ORV/Snowmobiles and Global Adjacent Markets sales were down, in-line with expectations.
First quarter results included additional expenses totaling approximately $30 million related to certain product liability settlements, ORV related warranty accruals, severance costs and acquisition related costs.
Repurchased 1.0 million shares of Polaris common stock during the first quarter.
Maintaining guidance range for full year 2016 earnings of $6.20 to $6.80... More
