NYSE$PII

Polaris Industries Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Polaris's fourth quarter results revealed sales and adjusted sales increased, net income and gross profit also increased.

Polaris reported a 7% increase in both reported and adjusted sales, reaching $1,736 million. Net income increased to $1.58 per diluted share, and adjusted net income was $1.83 per diluted share. The company's full-year sales grew by 12% to $6,783 million, with adjusted earnings exceeding previous guidance.

  • Fourth quarter reported and adjusted sales increased 7% to $1,736 million
  • North American retail sales increased 2% for the quarter compared to last year
  • ORV N.A. retail sales were up low-single digits percent, Indian motorcycles retail sales were up low-single digits percent
  • We ended the year with positive fourth quarter retail momentum in both Off-Road Vehicles and Motorcycles, supporting strong full year, broad-based sales growth of 12 percent.

Headline financials

Total Revenue

$1.74B

Previous: $1.63B+6.7%
EPS (adj)

$1.83

Previous: $1.83+0.0%
Capital Expenditures

$62M

Previous: $67.7M-8.3%
Free Cash Flow

$157M

Previous: $55.3M+183.5%
Net Income

$98.9M

Previous: $91.5M+8.2%
Operating Income

$136M

Previous: $143M-4.5%
Gross Profit

$423M

Previous: $391M+8.2%
Cash & Equivalents

$157M

Previous: $161M-2.6%
Total Assets

$4.43B

Previous: $4.12B+7.4%
Stock-Based Comp

$18.4M

Previous: $20.7M-11.3%

Revenue & EPS history

Polaris · Revenue · Quarterly

$1.74B

Q4 2019+6.7%vs Q4 2018
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Polaris · $1.27B total across 2 segments · Q4 2019

  • Off-Road
    $1.14B+7.5%
  • Marine
    $135M-7.1%

Forward guidance

The Company announced its sales and adjusted earnings guidance for the full year 2020. Sales are expected to increase in the range of 2 percent to 4 percent over 2019 adjusted sales of $6,783 million and adjusted net income is expected to be in the range of $6.80 to $7.05 per diluted share for the full year 2020 compared to adjusted net income of $6.32 per diluted share for 2019.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-1.0%

Avg return

Earnings day

-1.5%

Avg return

5 days after

+0.2%

Avg return

30 days after

41%

28 / 69 earnings

Positive

+15.2%

Q3 2017

Best reaction

-15.8%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+8.8%+8.8%+14.9%
Q4 2025-4.4%-7.6%-7.6%
Q3 2025-5.9%-7.1%-6.7%
Q2 2025-2.7%-6.4%-2.6%
Q1 2025+0.3%+3.2%+18.2%
Q4 2024-5.0%-14.9%-12.5%
Q3 2024-13.1%-11.1%-16.5%
Q2 2024-11.2%+0.7%+0.8%
Q1 2024-3.4%-5.0%-6.8%
Q4 2023-3.0%-2.4%+0.0%
Q3 2023-5.6%-7.3%-2.3%
Q2 2023+2.0%+0.2%-17.5%
Q1 2023-3.1%-0.7%-2.9%
Q4 2022+10.5%+10.8%+8.3%
Q3 2022+5.8%+7.8%+19.4%
Q2 2022-1.5%+3.8%+7.8%
Q1 2022-9.0%-11.1%-1.5%
Q4 2021+1.1%+1.9%+7.3%
Q3 2021-7.1%-9.0%-3.1%
Q2 2021-7.4%-5.7%-11.4%
Q1 2021-4.9%-3.4%-8.8%
Q4 2020-1.8%-2.4%+1.6%
Q3 2020+0.9%-0.8%+4.5%
Q2 2020+8.5%+5.8%+6.3%
Q1 2020+11.2%-2.8%+31.6%
Q4 2019+3.9%+0.9%-8.4%
Q3 2019+11.2%+10.9%+6.5%
Q2 2019+15.0%+13.2%-0.1%
Q1 2019-2.2%-1.5%-12.6%
Q4 2018-0.3%+2.0%+0.5%
Q3 2018-3.3%-5.6%+4.2%
Q2 2018-12.0%-13.5%-9.9%
Q1 2018-13.0%-13.5%-5.8%
Q4 2017-15.8%-17.9%-16.4%
Q3 2017+15.2%+11.2%+15.6%
Q2 2017+2.0%+1.5%-3.4%
Q1 2017+1.5%+2.5%+2.1%
Q4 2016+2.1%-0.9%-1.0%
Q3 2016-6.2%-7.8%+8.7%
Q2 2016+11.2%+11.4%+6.5%
Q1 2016+4.5%
Q4 2015-12.6%
Q3 2015-8.5%
Q2 2015-6.7%
Q1 2015+0.4%
Q4 2014+3.6%
Q3 2014-1.2%
Q2 2014+9.8%
Q1 2014-1.9%
Q4 2013-4.9%
Q3 2013-2.4%
Q2 2013+4.0%
Q1 2013+0.8%
Q4 2012-6.0%
Q3 2012+3.2%
Q2 2012-0.6%
Q1 2012+2.6%
Q4 2011-0.7%
Q3 2011-0.0%
Q2 2011-12.4%
Q1 2010+0.5%
Q1 2011-0.1%
Q4 2010-1.1%
Q4 2008-1.1%
Q3 2010+0.0%
Q3 2009+0.0%
Q2 2010-2.9%
Q2 2009-2.9%
Q4 2009-2.9%

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