Polaris Industries 1Q Earnings Falls 56 Percent

The company, however, stood by its full-year financial outlook. It said it continues to expect earnings between $2.50 per share and $3 per share, on a sales decline of 15 percent to 23 percent. Analysts expect $2.66 per share on sales of $1.57 billion.

For the second quarter, the company anticipates earnings between 40 cents and 50 cents per share, while Wall Street expects 51 cents per share. Quarterly sales are expected to drop 31 percent to 44 percent from the same period in 2008, when it reported sales of $455.7 million.

The company said retail sales for the 2009 second quarter are expected to remain weak for all product lines.

Shares of Polaris jumped $2.47, or 9.1 percent, to $29.59 at the opening bell Thursday morning. The stock has traded between $14.53 and $54.26 in the past 52 weeks.