{"id":4472,"date":"2016-04-22T16:17:51","date_gmt":"2016-04-22T16:17:51","guid":{"rendered":"http:\/\/azureblog.smallvehicleresource.com\/?p=4472"},"modified":"2016-04-22T16:17:51","modified_gmt":"2016-04-22T16:17:51","slug":"polaris-reports-q1-2016-earnings","status":"publish","type":"post","link":"https:\/\/smallvehicleresource.com\/blog\/2016\/04\/22\/polaris-reports-q1-2016-earnings\/","title":{"rendered":"Polaris Reports Q1 2016 Earnings"},"content":{"rendered":"<div id=\"attachment_4465\" style=\"width: 810px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/azureblog.smallvehicleresource.com\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps.jpg\" rel=\"attachment wp-att-4465\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-4465\" class=\"wp-image-4465 size-full\" src=\"http:\/\/azureblog.smallvehicleresource.com\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps.jpg\" alt=\"2015-RZR-XP-4-1000-eps\" width=\"800\" height=\"622\" srcset=\"https:\/\/smallvehicleresource.com\/blog\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps.jpg 800w, https:\/\/smallvehicleresource.com\/blog\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps-300x233.jpg 300w, https:\/\/smallvehicleresource.com\/blog\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps-768x597.jpg 768w, https:\/\/smallvehicleresource.com\/blog\/wp-content\/uploads\/2016\/04\/2015-RZR-XP-4-1000-eps-386x300.jpg 386w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><p id=\"caption-attachment-4465\" class=\"wp-caption-text\">One of the Polaris RZR models involved in the large first quarter vehicle recall.<\/p><\/div>\n<p>Polaris reported earnings for the first quarter 2016 fiscal year with sales and earning declining for the second consecutive quarter.??Revenue was down 5% to $983 million driven by inventory management and currency impacts. Earnings per share was down a significant 45% with??currency, volume and mix and considerable legal and warranty costs more than offsetting leaner operations.??The following are some of the highlights related to the small, task-oriented vehicle market.<\/p>\n<ul>\n<li>Polaris is recalling more than 160,000 RZR vehicles to address fire and other thermal risks. This figure appears to include vehicles outside the US as the <a href=\"http:\/\/azureblog.smallvehicleresource.com\/\">CPSC reported<\/a> a figure of 133,000.<\/li>\n<li>Management expects to &#8220;&#8230;address all of the recalled vehicles within the quarter&#8230;&#8221; and emphasized their commitment to resolving the issue quickly.<\/li>\n<li>Side-by-side dealer inventory declined upper single digit percent in the quarter.<\/li>\n<li>Year-over-year (YOY) North American side-by-side retail decreased slightly in an industry up mid to high single digits, so some market share was lost.<\/li>\n<li>Management is positive about the performance of the new GENERAL product line and reports cannibalization of Ranger and RZR lines is not significant.<\/li>\n<li>Side-by-side market remains weak in oil producing states but overall management is optimistic about the ORV (ATV &amp; side-b-side) industry.<\/li>\n<li>Management reports higher variability from month to month and regionally in the ORV market.<\/li>\n<li>The Global Adjacent Markets business unit saw a 8% decrease in revenue with strength in Aixam, national accounts and GEM offset by weakness in Bobcat and Brutus. Defense business (MRZR and Dagor) declined &#8220;significantly&#8221; due to tough comparables but the order backlog is up.<\/li>\n<li>The European ORV industry grew low single digits in the first quarter, with Polaris retail outperforming, up mid-single digits.<\/li>\n<li>Multix retail and distribution, while still relatively small, are on plan through the first quarter. Multix is a small multi-purpose vehicle for the Indian market.<\/li>\n<li>Ranger production will begin in the second quarter at the new Huntsville, AL plant, which should provide significantly better operating efficiencies and better inventory and retail flow management.<\/li>\n<li>Management expects?? Global Adjacent Markets to be up in the high single digits percent range, reflecting the recent acquisition of Taylor-Dunn??and??ORV\/Snowmobile sales to be down low to mid single digits.<\/li>\n<\/ul>\n<p><a href=\"http:\/\/seekingalpha.com\/article\/3967165-polaris-industries-pii-ceo-scott-wine-q1-2016-results-earnings-call-transcript?part=single\" target=\"_blank\" rel=\"nofollow\">Learn more: ??Seekingalpha.com<\/a> (earnings call transcript)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polaris reported earnings for the first quarter 2016 fiscal year with sales and earning declining for the second consecutive quarter.??Revenue was down 5% to $983 million driven by inventory management and currency impacts. Earnings per share was down a significant &hellip; <a href=\"https:\/\/smallvehicleresource.com\/blog\/2016\/04\/22\/polaris-reports-q1-2016-earnings\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,12,14,997,23,1829,27],"tags":[388,2086,1047,1127],"class_list":["post-4472","post","type-post","status-publish","format-standard","hentry","category-gem","category-management","category-market-trends","category-polaris","category-sales-figures","category-side-by-side-2","category-utility-vehicles","tag-earnings-call","tag-general","tag-ranger","tag-rzr"],"_links":{"self":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/4472"}],"collection":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/comments?post=4472"}],"version-history":[{"count":3,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/4472\/revisions"}],"predecessor-version":[{"id":4475,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/4472\/revisions\/4475"}],"wp:attachment":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/media?parent=4472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/categories?post=4472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/tags?post=4472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}