Polaris Q2 FY26 adjusted EPS rises to $1.97; sales climb 9% to $2.02 billion
PII•Full-year guidance raised
Full-year adjusted guidance was raised to sales of $7.3 billion-$7.5 billion and EPS of $3-$3.1, with a flattish retail outlook for the second half.
Inventory and retail trends remain supportive
Dealer inventory stayed healthy, down 8% year over year, as North America retail rose 4% and Polaris gained ORV share for a fifth straight quarter.
Q2 results beat expectations across key metrics
Polaris posted Q2 adjusted sales of $2.02 billion, up 9% year over year, beating expectations across all financial metrics.
Adjusted EBITDA more than doubled to $239 million, lifting adjusted EBITDA margin to 11.8% from 6.4% a year earlier.
Net income swung to $106.6 million from a loss a year earlier, while adjusted EPS rose to $1.97. Results included $74 million of tariff refunds.
