This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Polaris Industries' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Buoyed by the strength of the off-road vehicle category, and with confidence in our new model year ’13 product offerings, we are again raising our full-year sales and earnings guidance. Despite a soft and potentially slowing U.S. economy, we expect a positive reaction to the outstanding lineup we’ll introduce in next week’s dealer meeting. New products and process improvement should contribute to market share gains and margin enhancement throughout the remainder of the year. We are lowering second half expectations for our EMEA business, although they should still surpass 2011 results.

Growth in Asia Pacific Latin America is steady, and international sales overall will be solidly positive for the second half. We are increasing our full-year sales guidance for the entire company to up 14 to 17% over 2011. Coupling this sales growth with productivity gains and relaxing commodity pressure, we now anticipate full-year earnings per share in the $4.05 to $4.15 range, up 27 to 30% over 2011.

Earlier today, we announced we have signed an agreement to create a new joint venture in India with Eicher Motors Limited. We have made excellent progress over the past two years building our Polaris business in India, and are confident that Eicher is the right partner to help us accelerate growth in this important region. Eicher is a New Delhi-based $1.3 billion manufacturer of commercial vehicles and motorcycles, with a rich history and a sterling reputation. Eicher introduced India’s first tractors in 1959, and it was a proud legacy of innovation, including successful stewardship of the iconic Royal Infield motorcycle business. The largest part of the company is their joint venture with Volvo, which produces modern commercial vehicles and components. The 50-50 joint venture anticipates both Polaris and Eicher will invest approximately $25 million over the next three years. The joint venture plans to establish a manufacturing business in India, to develop and commercialize new vehicles for India and other emerging markets. The joint venture will combine Polaris’s innovative designs and engineering acumen with Eicher’s power train expertise, low cost supplier base and intimate knowledge of local consumer trends. Eicher’s strong financial position and powerful brand provide Polaris with firm footing in one of the world’s fastest-growing economies, and this joint venture establishes an important platform from which we can access an expansive group of new Asian customers.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs