-=Polaris Industries (PII) reported earnings on Tue 22 Oct 2019 (b/o)

Polaris Industries beats by $0.10, reports revs in-line; guides FY19 EPS in-line, revs below consensus

Reports Q3 (Sep) earnings of $1.68 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of $1.58; revenues rose 7.3% year/year to $1.77 bln vs the $1.78 bln S&P Capital IQ Consensus.

• Adjusted gross profit for the third quarter 2019 was $441 million, or 24.9 percent of adjusted sales compared to the third quarter of 2018 adjusted gross profit of $410 million, or 24.8 percent of adjusted sales. Adjusted gross profit margins were up 10 basis points during the quarter.
• Off-Road Vehicles ("ORV") and Snowmobiles segment sales, including PG&A, totaled $1,152 million for the third quarter of 2019, up eleven percent over $1,036 million for the third quarter of 2018 driven by growth in side-by-side sales and timing of snowmobile shipments.

Co issues guidance for FY19, sees EPS of $6.20-6.30, excluding non-recurring items, vs. $6.24 S&P Capital IQ Consensus; sees FY19 revs of $6.81 bln vs. $6.83 bln S&P Capital IQ Consensus.

• "Taking into account its year-to-date performance, the Company is narrowing its earnings guidance range for the full year 2019 by increasing the lower end to $6.20 per diluted share and maintaining the upper end of the range at $6.30 per diluted share. Sales are expected to increase approximately 12 percent for the full year 2019 compare to the prior year."