Polaris Industries (PII) Misses Q3 EPS by 6c
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Polaris Reports 2016 Third Quarter Results
October 25, 2016 6:00 AM EDTHighlights:
Motorcycle retail sales increased high-single digits percent, and as expected, ORV retail sales were down high-single digits during the quarter. Total Company North American retail sales were down nine percent for the quarter, in-line with expectations.
ORV dealer inventory was down 16%, year-over-year. Total dealer inventory was down 10%.
Third quarter results included expenses totaling approximately $65 million for increased warranty, legal and other costs associated with product recall activity.
Announced acquisition of Transamerican Auto Parts (TAP) to bolster leadership position in a growing off-road aftermarket space.
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