Polaris Q4 net loss $304M on impairments; guides 2026 adjusted EPS $1.50-$1.60

Polaris Inc.

2025-FY EPS reported -$8.18 revenue$7,152,000,000

Q4 reported net loss $304M ($5.34 per share) vs prior year net income $11M, driven by $288M impairment from Indian Motorcycle hold-for-sale.
Adjusted Q4 EPS $0.08 (down 91% YoY); full year adjusted EPS loss $0.01 on $7.15B sales flat YoY.
Gained market share in all segments for full year 2025; ORV retail up 5% in Q4.
2026 guidance: sales +1-3%, adjusted diluted EPS $1.50-$1.60, vs 2025 adjusted loss $0.01.
Q4 sales up 9% to $1.92B; gross margin down 40bps to 20.0% due to tariffs and net price.

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