Polaris Closes Book on Challenging 2016; Set to Resume Earnings Growth in 2017
While 2016 proved difficult for wide-moat Polaris, with earnings power sliced nearly in half, we believe the company is now set to resume a positive earnings trajectory. Some recall costs for products will persist into the first half of 2017, as the team attempts to ensure all of its operating processes are appropriate moving forward, but we anticipate total warranty expense should tick down meaningfully over the second half of the year, as most of the exposure from off-road vehicles has already...Polaris designs, engineers and manufactures powersports vehicles which include, off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility use, snowmobiles, motorcycles, global adjacent markets vehicles, including commercial, government and defense vehicles, and boats. The company's products, together with related Parts, Garments and Accessories, as well as aftermarket accessories and apparel, are sold through dealers, distributors and retail stores principally located in the United States, Canada, Western Europe, Australia and Mexico.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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