Polaris earnings jump 43% during 2Q, will expand in India

Medina-based Polaris Industries Inc. reported a record second quarter net income of $69.8 million or $0.98 per share, Wall Street Journal reports. The better-than-expected results were driven by double-digit sales growth in all types of vehicles, led by its on-road motorcycles.

Author:: BMTN Staff
Updated:: Mar 8, 2018
Original:: Jul 24, 2012

Medina-based Polaris Industries Inc. reported a record second quarter net income of $69.8 million or $0.98 per share, Wall Street Journal reports. The better-than-expected results were driven by double-digit sales growth in all types of vehicles, led by its on-road motorcycles.

Meanwhile, Polaris has formed a joint venture with an India-based maker of motorcycles and other vehicles. Twin Cities Business reports Polaris and New Delhi-based Eicher Motors Ltd. will each have a 50 percent stake in the venture.

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ATVs, motorcycles and snowmobiles were selling briskly for Polaris Industries Inc., leading a strong third quarter, company officials said Thursday, the Star Tribune reports. Demand was high for Polaris' all-terrain vehicles and Victory motorcycles in North America, and early demand for snowmobile sales surged where there's always plenty of snow – in Russia and Scandinavia.

Polaris Industries Inc. has set a lofty goal of building a $1 billion business by 2018 with a new fleet of small electric and electric-hybrid cars and trucks. The vehicles feature a 5- or 7-horsepower motor and go about 25 miles per hour, the Business Journal reports (with slideshow).