By Kit Norton

Shares of Polaris surged Thursday after the snowmobile and off-road vehicle manufacturer said recent tariff policy changes won't have an impact on 2026 guidance.

The Trump administration recently amended tariffs on steel, aluminum, and copper imports. While the 50% rate still applies to imported products made entirely of the metals, products that contain a significant amount of the metals will be subject to a 25% flat tariff, as opposed to a tax only on the metal content.

Polaris said Thursday that tariff policies, excluding possible refunds, will not have a "material impact" to its full-year 2026 guidance. The company cited its "significant domestic manufacturing presence" and said it continues to "strengthen its domestic supplier relationships."

Shares of Polaris jumped 16% to $55.32 on Thursday, rebounding after tariff concerns had dragged the stock down by 17% the previous session.

However, off-road vehicle competitor BRP, doesn't expect to be immune from levies. The company on Wednesday suspended its guidance for the fiscal year ending in March 2027, citing shifting tariff policy.

BRP estimated that the potential incremental tariff cost related to the recent change could be in excess of $500 million for the remainder of the fiscal year. The tariff change will lead to a 25% tariff on the total value of imported snowmobiles and the majority of its off-road vehicle models, replacing the previous 50% tariff on applicable metal content only, according to BRP.

Along with Polaris, shares of BRP advanced 7% to $54.43 on Thursday.

Polaris reports first-quarter earnings on April 28. Earlier this year, the company forecast 2026 earnings between $1.50 and $1.60 a share, compared with a loss of one cent a share in 2025. Polaris also expects 2026 revenue ranging from $7.22 billion to $7.37 billion. In 2025, Polaris sales totaled $7.15 billion.

Write to Kit Norton at kit.norton@barrons.com

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April 16, 2026 13:41 ET (17:41 GMT)

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