Polaris sees 1Q, full-year profit below estimates
Polaris predicts 1st-quarter, full-year earnings below Wall Street estimates
MINNEAPOLIS (AP) — Polaris Industries Inc. on Thursday projected first-quarter and full-year earnings below Wall Street expectations, as the leisure vehicle maker navigates a tough retail environment.
Polaris said it expects 2009 earnings between $2.50 and $3 per share. Analysts surveyed by Thomson Reuters expect a profit of $3.08 per share.
Polaris also said it expects 2009 sales to decline between 15 percent and 23 percent from 2008 sales of $1.95 billion. That implies the company expects sales between $1.37 billion and $1.66 billion.
Wall Street expects 2009 sales of $1.97 billion.
For the first quarter, Polaris expects earnings between 15 cents and 25 cents per share. Analysts expect income of 47 cents per share.
The company forecast first-quarter sales would fall 20 percent to 25 percent, implying sales of between $291.5 million and $311.1 million. Wall Street predicts sales of $375.8 million.
Shares of Polaris fell $1.67, or 7.1 percent, to $21.73 in afternoon trading. The stock has ranged from $19.32 to $54.26 over the past year.
Polaris predicts 1st-quarter, full-year earnings below Wall Street estimates
MINNEAPOLIS (AP) — Polaris Industries Inc. on Thursday projected first-quarter and full-year earnings below Wall Street expectations, as the leisure vehicle maker navigates a tough retail environment.
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Polaris said it expects 2009 earnings between $2.50 and $3 per share. Analysts surveyed by Thomson Reuters expect a profit of $3.08 per share.
Polaris also said it expects 2009 sales to decline between 15 percent and 23 percent from 2008 sales of $1.95 billion. That implies the company expects sales between $1.37 billion and $1.66 billion.
Wall Street expects 2009 sales of $1.97 billion.
For the first quarter, Polaris expects earnings between 15 cents and 25 cents per share. Analysts expect income of 47 cents per share.
The company forecast first-quarter sales would fall 20 percent to 25 percent, implying sales of between $291.5 million and $311.1 million. Wall Street predicts sales of $375.8 million.
Shares of Polaris fell $1.67, or 7.1 percent, to $21.73 in afternoon trading. The stock has ranged from $19.32 to $54.26 over the past year.