RTTNews | Jan 25, 2022 06:25AM EST

06:24 Tuesday, January 25, 2022 (RTTNews.com) - While reporting financial results for the fourth quarter and fiscal 2021 on Tuesday, Polaris Industries Inc. (PII) initiated adjusted earnings and sales guidance for the full-year 2022, well above analysts' expectations.

For fiscal 2022, the company now projects adjusted earnings in a range of $10.10 to $10.40 per share on sales between $9.215 billion and $9.455 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.83 per share on sales of $8.73 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company reported net income attributable to Polaris of $86.8 million or $1.40 per share, sharply down from $198.8 million or $3.15 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $134.2 million or $2.16 per share, compared to $211 million or $3.34 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $2.03 per share for the quarter. Analysts' estimates typically exclude special items.

Reported and adjusted sales for the quarter increased slightly to $2.17 billion from $2.16 billion in the same quarter last year. Analysts expected revenue of $2.13 billion, for the quarter.

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