Polaris Inc. reported its first-quarter 2025 financial results on April 29, 2025, announcing a net loss of $66.8 million, or $1.17 per share. The adjusted loss per share was $0.90, which slightly beat analyst estimates of a $0.91 loss. Revenue for the quarter was $1.54 billion, also exceeding Street forecasts of $1.51 billion.
Despite the slight beats on adjusted metrics and revenue, Polaris made the significant decision to withdraw its formal full-year 2025 guidance. This was attributed to the fluidity of the tariff environment, including new tariffs, changing rates, and temporary suspensions, coupled with potential impacts on consumer spending.
The company highlighted a projected incremental tariff rate of approximately 145% on its U.S. imported Chinese components, equating to an estimated $200 million to $240 million in new tariff costs for the year. Polaris is executing a four-pronged mitigation strategy, including supply chain adjustments to reduce China-sourced parts by 30% by year-end 2025, to address these substantial cost pressures.
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