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Polaris Industries Inc. stock price
Polaris Industries Inc. latest news:
Polaris's stock soars after earnings beat, boosted by jump in ORV-snowmobile sales
Shares Polaris Industries Inc. surged 5.7% in premarket trade Tuesday, putting them on track to open at the highest level since November 2015, after the off-road vehicle maker beat third-quarter profit and revenue expectations. Net income increased to $81.9 million, or $1.28 a share, from $32.3 million, or 50 cents a share, in the same period a year ago. Excluding non-recurring items, including costs to wind down Victory Motorcycles and other one-time costs, adjusted earnings per share of $1.46 beat the FactSet consensus of $1.21. Revenue rose 25% to $1.48 billion, above the FactSet consensus of $1.40 billion, as the 12% growth in off-road-vehicle/snowmobiles sales to $1.01 billion beat expectations of $939.9 million. Polaris raised its 2017 adjusted EPS guidance range to $4.75 to $4.85 from $4.35 to $4.50. The stock has soared 15% over the past three months through Monday, while the S&P 500 has gained 3.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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