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Mar 31, 2020
Polaris Q1 2020 Earnings Report
Reported sales decreased due to COVID-19 impact, with a net loss per share.
Key Takeaways
Polaris reported a decrease in sales by 6% to $1,405.2 million, impacted by COVID-19. The company reported a net loss of $5.4 million, or $(0.09) per diluted share, compared to a net income of $48.4 million, or $0.78 per diluted share in the first quarter of 2019. Adjusted net income was $13.6 million, or $0.22 per diluted share.
First quarter sales decreased 6% to $1,405 million.
The company reported a net loss of $0.09 per share; adjusted net income was $0.22 per share.
North American retail sales decreased high-single digits percent; Indian motorcycles retail sales increased low-single digits percent.
An incremental $300 million unsecured term-loan facility was entered into, increasing liquidity.
Polaris
Polaris
Polaris Revenue by Segment
Revenue by Segment
Off-Road Revenue
CapyFin.comMotorcycles Revenue
CapyFin.com Forward Guidance
Due to the unprecedented economic uncertainty as a result of the COVID-19 pandemic, the company withdrew its full year 2020 guidance on March 23, 2020 and will revisit the decision when visibility improves.
Revenue & Expenses
Visualization of income flow from segment revenue to net income