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Polaris Industries Q3 profit falls 80.9% YOY

Polaris Industries Inc. said its third-quarter normalized net income was 44 cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS declined 80.2% year over year from $2.22.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.6 million, a decline of 80.9% from $149.8 million in the prior-year period.

The normalized profit margin dropped to 2.4% from 10.2% in the year-earlier period.

Total revenue fell 18.4% year over year to $1.20 billion from $1.48 billion, and total operating expenses decreased 6.9% on an annual basis to $1.15 billion from $1.23 billion.

Reported net income declined 79.0% year over year to $32.5 million, or 50 cents per share, from $154.9 million, or $2.30 per share.