Why Polaris Stock Is Down Big Today
A weak consumer environment is eating into sales at powersports vehicle manufacturer Polaris (NYSE: PII), and the company's stock is feeling the impact.
Shares of Polaris traded down 10% as of 1 p.m. ET following a weak earnings report.
Polaris is a maker of off-road vehicles, boats, and motorcycles. The company posted third-quarter earnings of $0.73 per share on sales of $1.72 billion, falling short of Wall Street's $0.88 per share on revenue of $1.77 billion estimate. Sales were down 23% year over year, and the company's gross profit margin fell 204 basis points to 20.6%.
Source Fool.com
