Polaris demonstrated strong operational improvements and effective tariff mitigation strategies, gaining market share across segments. However, sales and revenue declined, margins were under pressure, and tariff impacts persisted. The decision not to provide full-year guidance due to uncertainty adds to the challenges.

Company Guidance -

Q3 2025

During the Polaris Second Quarter 2025 Earnings Conference Call, the company reported a 6% decline in sales, attributed to the ongoing industry downturn and increased promotions, with shipments down 4%, but better than expectations. Retail remained flat, and Polaris achieved share gains across all segments. Dealer inventory was down 17% year-over-year, excluding snowmobiles. Adjusted EPS was $0.40, exceeding consensus expectations despite being down year-over-year. The company is on track to deliver $40 million in operational efficiencies in 2025, with half already achieved. Tariff impacts remain a concern, with gross tariff costs expected to be $180 million to $200 million for the full year, though mitigation efforts have reduced this by $125 million compared to April estimates. Additionally, Polaris plans to reduce China-sourced parts by 35% by year-end. The company generated $290 million in free cash flow for the quarter and maintains a focus on maximizing cash generation and shareholder value amid the uncertain macroeconomic environment.

Share Gains Across Segments

Polaris gained market share across all segments during Q2, including ORV and Indian Motorcycles, with notable growth in crossover vehicles and Indian Motorcycles.

Successful Tariff Mitigation

Polaris reduced their expected 2025 tariff impact by over $150 million due to a decrease in the tariff on China spend from 170% to approximately 55%.

Operational Efficiency Improvements

Polaris achieved $40 million in operational efficiencies for 2025, with half of that already realized, boosting lean and quality initiatives.

Strong Free Cash Flow

Polaris generated approximately $290 million in free cash flow in Q2, the highest since 2020, by focusing on reducing working capital and operating more efficiently.

Successful Product Launches

Launch of new products like the Polaris RANGER 500 at a competitive price point, aimed at capturing a significant portion of the utility vehicle market.

Polaris (PII) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

PII Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	-0.24 / -	0.73	―	―	―
Jul 29, 2025	2025 (Q2)	<0.01 / 0.40	1.38	-71.01% (-0.98)
Apr 29, 2025	2025 (Q1)	-0.91 / -0.90	0.23	-491.30% (-1.13)
Jan 28, 2025	2024 (Q4)	0.89 / 0.92	1.98	-53.54% (-1.06)
Oct 22, 2024	2024 (Q3)	0.88 / 0.73	2.71	-73.06% (-1.98)
Jul 23, 2024	2024 (Q2)	2.25 / 1.38	2.42	-42.98% (-1.04)
Apr 23, 2024	2024 (Q1)	0.05 / 0.23	2.05	-88.78% (-1.82)
Jan 30, 2024	2023 (Q4)	2.56 / 1.98	3.46	-42.77% (-1.48)
Oct 24, 2023	2023 (Q3)	2.71 / 2.71	3.25	-16.62% (-0.54)
Jul 25, 2023	2023 (Q2)	2.21 / 2.42	2.42	0.00% (0.00)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PII Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$49.48	$57.81	+16.84%
Apr 29, 2025	$33.16	$33.25	+0.27%
Jan 28, 2025	$54.72	$49.71	-9.16%
Oct 22, 2024	$76.90	$69.26	-9.93%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Polaris Industries (PII) report earnings?

Polaris Industries (PII) is schdueled to report earning on Oct 28, 2025, Before Open (Confirmed).

What is Polaris Industries (PII) earnings time?

Polaris Industries (PII) earnings time is at Oct 28, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is PII EPS forecast?

PII EPS forecast for the fiscal quarter 2025 (Q3) is -0.24.

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