ST. PAUL, MN.--Polaris Industries, Inc., (NYSE: PII) revenue for 2Q15, ended June 30, 2015, increased 11% to $1.12B, compared to 2Q14 revenue of $1.014B. The increase in revenue came in large part from a 57% increase in Motorcycle sales, a 17% increase in PG&A sales and a 32% increase in Latin America sales.
Net Income for 2Q15 was a record $100.9M, an increase of 4% compared to 2Q14 net income of $96.9M. Negative currency rates and higher motorcycle production cost had a dampening effect on sales and income.
Year-to-date, Polaris posted net income of $189.5 million, up 7% from $177.8 million, on sales of $2.1 billion, compared to $1.9 billion in the first six months of 2014.
A slide presentation of the company's 2Q results is posted on the Polaris Investor Relations website at http://ir.polaris.com and a PDF of the Polaris 2Q2015 financial announcement is available at the end of this article.
Off-Road Vehicle (ORV) sales increased 2% to $688M compared to $676M in 2Q14. North America ORV sales for 2Q15 increased “mid-single digits percent” compared to 2Q14. Side-by-side sales increased “high-single digits percent” for 2Q15, while ATV sales increased “mid-single digits percent”. Increase in sales is being attributed to strong sales in North America offset by a planned deceleration of shipments to improve dealer mix. Both Ranger and RZR sales are up for 2Q15.
Management plans to discuss stragegies for growth at its dealer meeting in Las Vegas on Tuesday, July 28, 2015.