Polaris Inc. (NYSE: PII) has released its fourth-quarter and full-year 2025 earnings results, showcasing both financial and operational highlights.
In terms of sales, the full-year 2025 sales were reported at $7,152 million, with adjusted sales at $7,143 million, approximately flat compared to the previous year. However, the fourth-quarter sales saw a significant increase, reaching $1,922 million, up by nine percent compared to the same period last year, with adjusted sales standing at $1,921 million.
The reported diluted loss per share for the full year was $8.18, but the adjusted diluted net loss per share was $0.01. In contrast, the fourth quarter reported diluted loss per share was $5.34, with the adjusted diluted net income per share at $0.08.
Polaris made notable strides in gaining market share across all segments for the full year 2025. The company also announced full-year 2026 guidance, expecting sales to increase by one to three percent compared to 2025.
The financial performance summary for the fourth quarter showed that the gross profit margin decreased by 40 basis points to 20.0 percent, with adjusted gross profit margin down to 20.3 percent. Operating expenses also saw a significant increase, reaching $724 million, primarily due to charges associated with the Indian motorcycle business held for sale.
The company reported a net loss attributable to Polaris of $304 million for the fourth quarter, translating to a $5.34 net loss per diluted share. However, the adjusted net income attributable to Polaris for the quarter was $4 million, with adjusted EPS at $0.08.
In terms of segment highlights, the off-road segment saw a significant increase in sales, driven by higher volume and favorable mix within off-road vehicles, partially offset by lower net price. The on-road segment also experienced growth, driven by a higher mix of Aixam and Goupil, while the marine segment's sales were influenced by higher volume on entry-level pontoons.
Looking ahead, Polaris expects adjusted diluted EPS attributed to Polaris Inc. common stockholders to be between $1.50 and $1.60 for 2026, a significant improvement from the ($0.01) reported in 2025.
Polaris Inc. is a global leader in powersports, offering a diverse product lineup that includes off-road vehicles, motorcycles, electric vehicles, and boats, serving nearly 100 countries worldwide.
For further details and insights into the earnings results, the company will be hosting a conference call and webcast to discuss the 2025 fourth quarter and full-year results. Following these announcements, the company's shares moved -1.19%, and are now trading at a price of $69.95. For the full picture, make sure to review Polaris's 8-K report.
