Polaris 公司 (NYSE:PII) 报告称，第四季度销售同比下降 23% 至 17.5 亿美元，但仍高于分析师预计的16.9 亿美元。 2024年第四季度公司总销售额受出货量计划性减少的负面影响，以应对零售环境低迷下的经销商库存管理。 越野车部门销售额暴跌25%，公路部门下降21%，海洋部门下跌4%。 调整后的每股收益（EPS）为0.92美元，高于分析师预期的0.89美元。 该季度毛利润同比下降24.9%至3.579亿美元，利润率缩减了44个基点至20.4%。 运营费用减少了10.9%至3.18亿美元。该季度运营收入暴跌 53.8% 至 6,580 万美元，营运利润率缩减了 249 个基点至 3.74%。 截至2024年12月31日，公司持有287.8百万美元的现金及等价物。公司十二个月的经营现金流共计2.682亿美元。 该季度调整后的息税折旧摊销前利润（EBITDA）利润率缩减了约70个基点至9.6%。 Polaris 公司首席执行官 Mike Speetzen 表示：“Polaris 以前也曾经渡过难关，我们相信此次公司可以在低迷期后变得更强大。” “虽然我预计2025年也将面临挑战性阻力，但我们将继续专注于成为经销商的强大合作伙伴，向用户提供高质量的产品，并致力于为股东带来长期价值。” 展望：Polaris预期2025财年销售额将比2024年下降1%至4%。公司预计调整后的每股收益将下降65%。 公司还预期将因负面产品组合、计划的生产减少及恢复员工利润分享计划而面临利润率压力。 价格动态：PII股票在周二盘前下跌6.23%，现价为53.00美元。

以上内容来自Benzinga Earnings专栏，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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