Polaris Industries (PII) Tops Q2 EPS by 4c; Lowers Outlook
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Polaris Reports 2016 Second Quarter Results
July 20, 2016 6:00 AM EDTSecond Quarter 2016 Highlights:
Motorcycle sales increased 23% during the quarter. Global Adjacent Markets sales increased 14%. ORV/Snowmobiles sales were down 6%, slightly better than expectations.
ORV dealer inventory was down 8%, year-over-year. Total dealer inventory was up 1% due to normalized motorcycle shipments.
Second quarter results included expenses totaling approximately $25 million for increased warranty, legal and other costs associated with the product recalls and protecting the brand.
Repurchased 652,000 shares of Polaris common stock during the second quarter.
Operating cash flow year-to-date increased 287% to $348 million.
Lowering and... More
