Polaris (PII)
NYSE:PII
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Earnings Data
Report Date
Jul 28, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.7Last Year’s EPS
0.4Same Quarter Last Year
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strong operational quarter with notable wins: double-digit organic sales growth excluding Indian, meaningful margin expansion, EPS upside, robust product momentum, lean-driven savings and improved dealer inventory and cash generation. However, material and lingering external risks remain — primarily tariff-related costs (~$215M expected), recent Section 232 changes that offset IEEPA benefits, rising commodity costs, and consumer/geopolitical uncertainty — prompting management to maintain a conservative outlook. On balance, internal execution and financial performance significantly outweighed the external headwinds during the quarter, but the company remains cautious due to policy and macro uncertainty.Company Guidance
Strong Top-Line Growth
Reported sales up 8% year-over-year and approximately 14% organic growth excluding Indian Motorcycle, driven by strong Powersports performance (ORV, commercial and seasonal).
Earnings Beat and EPS Performance
Delivered adjusted EPS of $0.13 for Q1, above expectations; adjusted EPS would have been $0.26 excluding Indian Motorcycle separation effects.
Margin Expansion
Gross margins improved significantly (management cited +389 bps overall and +422 bps in Powersports) and adjusted EBITDA margin increased ~277–280 basis points despite a ~240 bps tariff headwind.
Product and Market Momentum
Double-digit growth in Power Sports and snowmobile retail up 25% for the '25/'26 season; ORV retail up 3% in North America with four consecutive quarters of ORV share gains; strong product launches and awards (Bennington QX, Godfrey Sanpan Pontoon of the Year, Razor Pro R competitive wins).
Inventory Alignment and Dealer Health
Dealer inventory in healthy alignment (about 100 days sales basis); snowmobile dealer inventory down over 50% year-over-year and exited the season with much healthier levels; management pacing shipments to match retail.
Operational Improvements and Lean Savings
Improving factory utilization (approaching ~70%), ongoing lean implementation with >$240 million in structural savings achieved to date, and continued focus on operational efficiencies contributing to margin gains.
Balance Sheet and Capital Return Progress
Strong cash generation history (over $600 million free cash flow in prior year), first-quarter cash flow better than planned, more than $530 million of debt reduction in 2025, and a 31st consecutive year of dividend growth commitment.
Segment & Portfolio Reorganization
New reportable segments (Polaris Powersports ~90% of sales, Marine, Aixam & Goupil) to better align go-to-market strategy; Aixam & Goupil sales up 9% and Marine benefited from richer pontoon mix.
Tariff Mitigation Roadmap
Management outlined a plan to reduce China-sourced material in COGS from ~14% to below 5% by end of 2027 and is pursuing refund claims (~$125 million paid in IEEPA tariffs) and other mitigation strategies.
PII Earnings History
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 |
|---|---|---|---|
Apr 28, 2026 | $61.05 | $66.47 | +8.88% |
Jan 27, 2026 | $68.34 | $65.44 | -4.24% |
Oct 28, 2025 | $69.68 | $65.98 | -5.31% |
Jul 29, 2025 | $47.86 | $55.91 | +16.84% |
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 (PII) report earnings?
Polaris (PII) is schdueled to report earning on Jul 28, 2026, Before Open (Confirmed).
What is Polaris (PII) earnings time?
Polaris (PII) earnings time is at Jul 28, 2026, 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 2026 (Q2) is 0.7.