Polaris 公司 (NYSE:PII) 報告稱，第四季度銷售按年下降 23% 至 17.5 億美元，但仍高於分析師預計的16.9 億美元。 2024年第四季度公司總銷售額受出貨量計劃性減少的負面影響，以應對零售環境低迷下的經銷商庫存管理。 越野車部門銷售額暴跌25%，公路部門下降21%，海洋部門下跌4%。 調整後的每股收益（EPS）為0.92美元，高於分析師預期的0.89美元。 該季度毛利潤按年下降24.9%至3.579億美元，利潤率縮減了44個點子至20.4%。 運營費用減少了10.9%至3.18億美元。該季度運營收入暴跌 53.8% 至 6,580 萬美元，營運利潤率縮減了 249 個點子至 3.74%。 截至2024年12月31日，公司持有287.8百萬美元的現金及等價物。公司十二個月的經營現金流共計2.682億美元。 該季度調整後的息稅折舊攤銷前利潤（EBITDA）利潤率縮減了約70個點子至9.6%。 Polaris 公司首席執行官 Mike Speetzen 表示：「Polaris 以前也曾經渡過難關，我們相信此次公司可以在低迷期後變得更強大。」 「雖然我預計2025年也將面臨挑戰性阻力，但我們將繼續專注於成為經銷商的強大合作伙伴，向用戶提供高質量的產品，並致力於為股東帶來長期價值。」 展望：Polaris預期2025財年銷售額將比2024年下降1%至4%。公司預計調整後的每股收益將下降65%。 公司還預期將因負面產品組合、計劃的生產減少及恢復員工利潤分享計劃而面臨利潤率壓力。 價格動態：PII股票在周二盤前下跌6.23%，現價為53.00美元。

以上內容來自Benzinga Earnings專欄，原文如下：

Polaris Inc (NYSE:PII) reported a fourth-quarter sales decline of 23% year-on-year to $1.75 billion, beating the analyst consensus estimate of $1.69 billion.

Total Company sales in the fourth quarter of 2024 were negatively impacted by lower volume due to planned reductions in shipments to manage dealer inventory in a subdued retail environment.

Sales from Off-Road segment plunged 25%, On Road segment dropped 21%, and Marine slumped 4%.

Adjusted EPS of $0.92 beat the analyst consensus estimate of $0.89.

Gross profit for the quarter decreased 24.9% Y/Y to $357.9 million, and the margin contracted by 44 basis points to 20.4%.

The operating expenses decreased 10.9% to $318 million. The operating income for the quarter crashed 53.8% to $65.8 million, with the operating margin contracting 249 basis points to 3.74%

The company held $287.8 million in cash and equivalents as of December 31, 2024. The company’s operating cash flow for the twelve months totaled $268.2 million.

Adjusted EBITDA margin for the quarter contracted nearly 70 basis points to 9.6%.

「Polaris has weathered storms before, and we believe we are positioning our organization to emerge from this downcycle even stronger,」 said Polaris CEO Mike Speetzen.

「While I anticipate challenging headwinds will carry forward into 2025, we will remain focused on being a strong partner to our dealers, providing our riders with high quality products and working to deliver long-term value to shareholders.」

Outlook: Polaris sees FY25 sales to be down one to four percent versus 2024. The company expects adjusted EPS to be down 65%.

The company also expects margin headwinds from negative mix, planned reductions in production leading to negative absorption in addition to the restoration of employee profit-sharing program.

Price Action: PII shares are trading lower by 6.23% at $53.00 in premarket at the last check Tuesday.

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