Polaris second quarter profit pops

Author:
Updated:
Original:

Polaris Industries reported a 15 percent increase in second-quarter net income on Tuesday, and has raised its outlook for the year.

The Economic Times said the Minneapolis-based company cited strong sales of its all-terrain vehicles and other power sports products. Polaris reported an 11 percent increase in sales in North America, offsetting slower consumer demand on the international market.

The Associated Press reports the rise in second-quarter net income is attributed to higher selling prices and ongoing efforts to lower product costs.
For the period ended June 30, Polaris Industries Inc. earned $80 million, or $1.13 per share. That compares with $69.8 million, or 98 cents per share, a year ago. The Minneapolis company now anticipates full-year earnings of $5.20 to $5.30 per share, up from $5.05 to $5.20 per share.

Next Up

vaccine, covid

Walz, Whitmer, and Evers call on Trump Admin. to buy more vaccines

It comes after The Washington Post reported that the country's COVID vaccine reserves have been exhausted.

Karl-Anthony Towns

Wolves-Grizzlies game off, KAT tests postive for COVID

The Timberwolves star was among several players that are dealing with COVID-related issues.

minnesota state fair

Planning for the 2021 Minnesota State Fair is underway

The fair suffered huge financial losses due to COVID-19, but organizers are moving forward with planning "different scenarios" for this summer.

Screen Shot 2021-01-15 at 2.16.44 PM

Heather Brown named as new WCCO 'This Morning' anchor

She will be joining Jason DeRusha on the CBS affiliate's Morning Show.

DPS John Harrington

DPS Commissioner: No credible threats to state Capitol, but ready if something arises

Local and state law enforcement officials have a plan in case a threat arises.

snow, slush (submitted photo, ok to use)

Here are snow totals from Thursday-Friday winter storm

It's a slushy mess in the metro, but snow did pile up in southern counties.

tim walz

Walz fury after report that government's COVID vaccine reserve is nonexistent

The Washington Post reported Friday that the Trump Administration has shipped out all the vaccines it has already, with none in reserve.

closed sign

What's open and closed in Minnesota on MLK Day 2021?

Local government offices will generally be closed on Monday.

BMTN 900x450 (8)

Company that falsely promised student loan forgiveness banned from MN

It's also been ordered to repay $11,499 in fees taken from Minnesotans.

covid-19, coronavirus

Here is Minnesota's COVID update for January 15

Hospitalizations are the lowest in Minnesota since October 25.

Related

Polaris profits surge 40 percent in 3Q

Boosted by double-digit sales growth across all of its product lines, Polaris Industries Inc. posted a net income of $94.3 million, a 40 percent jump from $67.6 million in the third quarter a year-ago, the Associated Press reports. The Medina-based all-terrain vehicles maker also lifted its full-year outlook for the third time.

TCF's profits plunge in fourth quarter

CEO Bill Cooper says new rules that cap how much banks can charge retailers for debit card transactions are partly to blame for the poor numbers. He also cited start-up costs associated with a new specialty finance division.

Polaris profits leap 39 percent in 3Q

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.