Polaris Motorcycle Sales Increase 23 Percent in Q2
Indian and Victory parent company Polaris issued its second-quarter earnings report on Wednesday, with motorcycles continuing to grow at a dramatic rate.
The company said that motorcycle segment sales had increased 23 percent in the 2016 second quarter to $231.3 million. All brands grew sales during the quarter, according to Polaris, but we here at RideApart are willing to bet that Indian is the brand seeing the greatest success.
The company won’t be that specific about which is performing best among its motorcycle segment (which includes the Slingshot), but it did share that gross profit increased 63 percent to $39.8 million in the second quarter of 2016, compared to $24.5 million in the second quarter of 2015.
Polaris points out that the increased demand for Polaris products bucks an overall motorcycle industry sales trend for bikes 900cc and above. Broadly sales in that sector were down mid-single digits percent in the 2016 second quarter.
Elsewhere, sales of off-road vehicles and snowmobiles dropped 6 percent, which was less of a drop than expected.
Overall, the company reported a second quarter net income of $71.2 million, or $1.09 per diluted share, for the quarter ended June 30, 2016. Sales for the second quarter of 2016 totaled $1,130.8 million, up one percent from last year’s second quarter sales of $1,124.3 million.
To view the full report visit Polaris Investor Relations.