Polaris Q2 net loss $79M; sales down 6%; goodwill impairment hit

Polaris Inc.

2025-Q2 EPS reported -$2.57 revenue$3,388,500,000

Q2 GAAP net loss $79M ($1.39 loss per share); adjusted net income $23M ($0.40 EPS), down 71% YoY.
Sales $1,853M (-6% YoY); gross margin 19.4% (-223 bps) on negative mix and higher promotions.
Recorded $52.6M goodwill impairment in On Road segment and $49.4M impairment on strategic investment.
Q3 2025 sales guidance $1.6-1.8B; full year guidance withheld due to trade and economic uncertainty.
ORV North America retail flat; Indian Motorcycle retail up low-double digits; market share gains across segments.

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