Why Polaris Industries Stock Popped Today
Shares of Polaris Industries (NYSE: PII) were up 10.8% as of 3 p.m. EDT Tuesday after the off-road vehicle and motorcycle specialist announced strong quarterly results.
More specifically, third-quarter adjusted sales grew 7% year over year to $1.772 billion. That translated to adjusted net income of $104 million, or $1.68 per share, down from $118 million, or $1.86 per share a year ago. Keeping in mind Polaris doesn't usually provide specific quarterly guidance, most analysts were expecting lower earnings of $1.58 per share on slightly higher revenue of $1.79 billion.
An Indian motorcycle, a Polaris brand. Image source: Polaris.
Source Fool.com
