Polaris Inc. announced a drop in profits for the fourth quarter, which did not meet the market expectations.
The company reported a profit of $103.4 million, or $1.81 per share, a drop from $195.5 million, or $3.34 per share, in the fourth quarter of the previous year.
When excluding certain items, Polaris Inc. reported adjusted earnings of $113.4 million or $1.98 per share for the quarter.
On average, market analysts had anticipated the company's earnings per share to be around $2.60, as reported by Thomson Reuters. Typically, these estimates do not include any special items.
Polaris reported a 4.8% decrease in revenue for the quarter, falling to $2.289 billion from $2.404 billion last year.
Here are some key points from the Polaris Inc. earnings report (GAAP):
- Fourth quarter earnings: $103.4 million, a decline from $195.5 million last year.
- Earnings per share for the fourth quarter: $1.81, down from $3.34 last year.
- Analyst Estimates: $2.60
- Fourth quarter revenue: $2.289 billion, a decrease compared with $2.404 billion last year.
