Polaris Q3 Profits Rise by 10%

Fiscal earnings for numerous companies have altered drastically during the COVID-19 Pandemic. Almost all corporations worldwide saw profits drop drastically when the epidemic became an international debacle. However, most would see margins enter positive percentages before Q3. One corporation that experiences this same fiscal year is Polaris, which confirmed that profit margins have begun increasing at slow percentages. This comes after Q2 2020 saw Polaris announce that sale volumes had dropped by 15%.

Polaris released their Q3 Report for investors on October 27th, which saw that margins had grown by 10% in 2020 compared to the same period in 2019. Nobody at Polaris has anticipated growth during the Pandemic. However, consumers requiring more involvement with the outdoors have selected their brand for new entertainment. It should be clarified that Polaris sells an influx of products under multiple brands. Products include motorcycles, dirt bikes, snowmobiles, boats, tents, clothing, and much more. Their available consumer brands comprise of:

  • Polaris Razor.
  • Polaris Ranger.
  • Polaris General.
  • Polaris Sportsman.
  • Polaris Snowmobiles
  • Polaris Timbersled
  • Polaris Ace.
  • Indian Motorcycles.
  • Victory Motorcycles.
  • Slingshot Motorcycles.

For our readers, they’re familiar with Indian Motorcycles & Victory Motorcycles. Reviewing the Q3 Report from Polaris shows that motorcycling products grew by 11% throughout 2020. Slingshot Motorcycles saw higher growth than Victory, with Indian Motorcycles having the most prominent growth. It should be noted that profits in the motorcycling category for the Q3 2020 Report account for the selling of Parts, Gear, Clothing, and Accessories.

The Chief Executive Officer & Chairman of Polaris Incorporated released a formal statement on the growth. CEO Scott Wine noted that thousands of employed personnel worked together to mitigate supplier disruptions, increase the quarterly profits, and sustain manufacturing during times when other manufacturing were closing shop.

CEO Scott Wine would reveal that the United States market saw a significant increase with Indian Motorcycles, reaching 40% growth compared to Q3 2020. Indian Motorcycles could become a competitive brand to Honda, Harley Davidson, Yamaha, and Ducati with their continued growth in America. This positive news has prompted Polaris Incorporated to inform investors that Q4 2020 will evoke higher profits & steady growth.

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