Polaris reports $182 million in boat sales

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Hurricane is a new Polaris brand

Hurricane is a new Polaris brand

Polaris Industries today reported companywide sales of $1.78 billion for its second quarter ended June 30, 2019. Sales were up 18 percent compared to the same period a year ago. Net income was $93 million.

The company said in a statement that its Boats segment, consisting of the Boat Holdings acquisition, had sales of $182 million. Gross profit was $40 million or 22.2 percent of sales in the second quarter of 2019. Polaris, which acquired Boat Holdings July 2018, did not have a year-to-year comparison.

“We are encouraged by our market share gains and year-to-date growth in Boats, as well as the continued improvement at TAP, where retail store sales growth was up nicely,” said Scott Wine, chairman and CEO, in the statement.

Wine said the company “worked diligently to overcome the impacts of tariffs, a very wet spring and an aggressive promotional environment.” He said that “operational and dealer fundamentals are in good shape.”

The company said that overall dealer inventory was up 1 percent compared to the second quarter a year ago, which is “slightly below” targeted inventory levels.