Polaris Inc (PII) released its first quarter results on Wednesday, April 28, 2021. The company reported net earnings of $2.11 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 2520 percent compared to the same period a year ago.
Polaris Inc. was founded in 1954 and is headquartered in Medina, Minnesota. Polaris Inc. designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats.
Polaris's revenue increased 13 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 27.79% for the first quarter compared to the same period in the previous year, and operating margins increased to 8.84% over the same period. Net earnings for past trailing twelve months were $264.3 million, down 2% from the prior year.
Moving on to the balance sheet, Polaris’s cash levels jumped 2% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 12.45% this past year. The current ratio for Polaris now stands at 1.15. The company increased shares outstanding by 0.79%.
Shares of PII are currently trading around $137.75. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 33.64 and price to book ratio of 8.24.