- Polaris (NYSE:NYSE:PII) reports North American Off-Road Vehicles unit retail sales were down low-single digits percent in Q2.
- Sales break-up: Off-Road Vehicles/Snowmobiles: $845.51M (+6%); Motorcycles: $198M (-13%); Global adjacent markets: $97.02M (+7%); Aftermarket: $224.39M (+1,755%).
- Income from financial services fell 6% to $19.1M.
- Adjusted gross margin rate improved 160 bps to 26.8% due to significant gross VIP cost savings and positive product mix.
- Operating margin rate slipped 300 bps to 7.3%.
- Total dealer inventory was down 6%.
- FY2017 Guidance: Adjusted sales: +12% to +14%; Adjusted Diluted EPS: $4.35 to $4.5.
- PII +0.05% premarket.