Polaris Inc. (PII) has reported a decline in profit for the fourth quarter compared to the same period last year, although results surpassed Wall Street expectations. The company's net income was recorded at $10.60 million, equivalent to $0.19 per share, a significant drop from the previous year's $103.40 million, or $1.81 per share.
When excluding special items, Polaris Inc. achieved adjusted earnings of $52.30 million, or $0.92 per share, slightly exceeding the average analyst projection of $0.90 per share. It's important to note that analysts' forecasts generally do not factor in special items.
Revenue for the quarter experienced a 23.3% decrease, falling to $1.755 billion from the earlier figure of $2.289 billion.
To summarize Polaris Inc.’s GAAP-based earnings snapshot:
- Earnings stood at $10.60 million, compared to $103.40 million in the previous year.
- Earnings per Share (EPS) was $0.19, down from last year's $1.81.
- Revenue decreased to $1.755 billion from $2.289 billion year-over-year.
