Polaris reports decline in Q4 boat sales - Trade Only Today

Polaris reports decline in Q4 boat sales

Author:
Updated:
Original:
PolarisNumbers

Polaris today reported fourth- quarter sales of $1.7 billion, an increase of 7 percent compared with the same period a year ago. Net income was $98.9 million, up 8 percent over a year ago.

“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,” CEO Scott Wine said in a statement.

Fourth quarter sales for Polaris’ boat segment declined 7 percent to $135 million, according to the statement, with gross profit falling 1 percent to $25.7 million. The company said “negative product mix and planned dealer inventory reductions” were the causes of the lower sales.

For 2019, companywide sales were $6.78 billion, compared with $6.08 billion in 2018. Polaris expects 2020 sales to be up 2 to 4 percent, with net income to be in the range of $6.80 to $7.05 per diluted share.

“While the negative impact of tariffs remains a significant headwind on an annualized basis, the year-over-year impact is expected to be minimal to the company’s 2020 full year earnings guidance,” said the statement.

Related

Brunswick Corp. Appoints New President

Aine Denari is an automotive industry veteran with vast experience in leading-edge mobility systems.

Menhaden Quotas Reduced

Sportfishing groups applauded the move, saying it will help rebuild the striped bass population.

Winnebago Reports Q4, Fiscal 2020 Results

Revenue grew 18.6 percent for the year to $2.4 billion.

Quick Hits: October 22, 2020

Tiara Yachts honors top dealers; Smoker Craft donates to MRAA; ICOMIA issues state of the industry.

Make Your Cash Register Ring for Christmas

If you want to bring in some cash this holiday season, it’s time to get to work.

Vandalize Boats Will Debut at FLIBS

Nautical Ventures will market and sell the new lineup of center console sport utility vessels.

NMLA Joins MRAA as Partner

Through partner membership, manufacturers, suppliers and service providers can align their brands with the MRAA program.

Scania to Power Special Editions of Maritimo X-Series Yachts

The company, known for providing commercial iron, entered the U.S. recreational marine market in August.

Quick Hits: October 21, 2020

Grady-White subsidizes Dealer Week registrations; Brunswick increases dividend; and Scout hands out awards at virtual meetings.