Tariffs weigh on Polaris' profits, but market share gains imply its competitive edge is intact.
Wide-moat Polaris reported a second quarter with both bright spots and tarnish, with its legacy segments (off-road/snow) delivering solid performance and new categories (aftermarket and the onboarding of Boat Holdings) acting as a drag on the potential outlook. ORV/snow (66% of 2017 sales) and global adjacent market adjusted sales each ticked up 17%, well ahead of our single-digit outlook for both and offsetting weaker-than-anticipated sales in both the motorcycle (down 10%) and aftermarket (1%)...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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