Skip to main content
Publish date:

Polaris reports Q3 sales up 12 percent over 2017

polaris

Polaris Industries today reported third quarter 2018 sales of $1.65 billion, up 12 percent from nearly $1.48 billion for the third quarter of 2017.

Adjusted sales for the third quarter of 2018 also were $1.65 billion, up 12 percent from the prior year. The Boat Holdings acquisition, which closed July 2, added $134 million in sales for the third quarter.

The company reported third quarter 2018 net income of $96 million, or $1.50 per diluted share, compared with net income of $82 million, or $1.28 per diluted share, for the 2017 third quarter. Adjusted net income for the quarter was $118 million, or $1.86 per diluted share, up 21 percent and 22 percent, respectfully, compared to $98 million, or $1.52 per diluted share, in the 2017 third quarter.

Weighing on profits were the impacts of tariffs, and commodity and freight costs, the company reported.

Gross profit increased 10 percent to $401 million for the third quarter of 2018, from $364 million in the third quarter of 2017. Reported gross profit margin was 24.3 percent of sales for the third quarter, compared to 24.6 percent of sales for the third quarter of 2017. Gross profit includes the negative impact of $8 million of Victory Motorcycles wind-down costs, costs related to the acquisition of Boat Holdings, and realignment and restructuring costs.

Boat segment sales were $134 million in the 2018 third quarter, slightly better than expected. Reported gross profit was $20 million, or 15.1 percent of sales in the third quarter of 2018. Adjusted gross profit, which excludes integration costs and purchase accounting, was $23 million, or 17.4 percent of sales in the third quarter of 2018.

Related

AIM Marine Group Hosts Meet the Editors Event

More than a dozen editors from Active Interest Media’s Marine Group participated in the day-long, information-sharing event.

Fairline Makes Leadership Appointments

The British luxury boatbuilder founded plans to chart its course for the future with a new CEO and the return of Derek Carter as chairman.

Battle on the Great Lakes Rages On

The Icebreaker Wind Turbine Development faces strong headwinds from boating and fishing groups.

Limestone Boat Co. Expands Dealer Network

The company adds four new dealers to its roster, with three to represent Aquasport Boats.

NMEA Announces ‘22 Training Course Schedule

For next year, marine training courses will be offered as virtual and in-person sessions for basic marine electronics installers, and in-person only for advanced installers.

GM Invests $150M in Electric Boat Start-Up

General Motors has acquired a 25-percent stake in Pure Watercraft, a Seattle-based e-propulsion outfit.

Patrick Acquires Marine and RV Seating Maker

The Elkhart, Ind.-based component manufacturer finalized its purchase of Williamsburg Marine and Williamsburg Furniture.