Polaris Industries Inc.'s PII +7.47% first-quarter earnings jumped 27% as the company saw sales of its RANGER RZR off-road vehicles and Victory motorcycles jump.
The results easily topped expectations, leading the company to raise its earnings guidance for the year to $3.85 to $4 a share on sales growth of 10% to 13%. In January, Polaris saw profits ranging between $3.65 and $3.80 and sales growth of 5% to 8%.
"Our record first quarter results reflect not only the continued strength of our business and solid execution of our strategy, but also a healthy start to the year for our end markets," Chief Executive Scott Wine said.
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