UPDATE: Citi Downgrades Polaris Industries (PII) to Neutral (correction)
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Polaris Industries (PII) Tops Q1 EPS by 52c, Revenues Beat; Raises FY21 EPS/Revenue Guidance Above Consensus
April 27, 2021 5:47 AM EDTPolaris Industries (NYSE: PII) reported Q1 EPS of $2.11, $0.52 better than the analyst estimate of $1.59. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.86 billion.
Financial and Operational Highlights
First quarter reported and adjusted sales increased 39% to $1,951 millionFirst quarter reported net income was $2.11 per share; adjusted net income for the same period was $2.30 per shareGross profit margin, reported and adjusted, for the first quarter was 24.6% and 24.7%, up 378 basis and 352 basis points over the prior year, respectively. The increase was primarily due to lower promotional costs, partially offset by costs... More