Polaris (PII) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Polaris published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Polaris reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Polaris sold a majority interest in Indian Motorcycle on February 2, 2026. From Q1 2026 it reports three segments (Polaris Powersports, Marine, Aixam & Goupil), and prior periods were reclassified with Indian Motorcycle in Corporate. Indian Motorcycle's sales are inside the $117.7 million of Q3 2025 Corporate sales.
• Q3 2026 includes $10 million of tariff refunds, which Polaris says added $0.13 to adjusted EPS.

Source: Polaris Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Polaris splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Polaris's Polaris Powersports revenue was $1.8 billion in Q3 2026, up 18% from $1.5 billion in Q3 2025, 89% of total revenue.
• Polaris's Marine revenue was $133 million in Q3 2026, up 29% from $103 million in Q3 2025, 7% of total revenue.
• Polaris's Aixam & Goupil revenue was $68.0 million in Q3 2026, down 12% from $77.3 million in Q3 2025, 3% of total revenue.
• Polaris's Corporate revenue was $19.1 million in Q3 2026, down 84% from $118 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Polaris said:

“The Company now expects 2026 adjusted sales to be between $7.55 billion to $7.60 billion versus prior guidance of $7.30 billion to $7.50 billion.”

“The Company now expects adjusted EPS of $3.50 to $3.60 versus prior guidance of $3.00 to $3.10, of which approximately $1.09 is attributed to the benefit of tariff refunds recorded in the second and third quarters of 2026.”

Source: Polaris Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PII forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP sales and diluted EPS attributable to Polaris, each as first reported in that quarter's release. Q4 2025 and Q1 2026 losses include charges tied to the separation of Indian Motorcycle.

Polaris's next report is expected around January 25, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Polaris had sales of $2,042.6 million in Q3 2026, up 11% from $1,841.6 million. Polaris Powersports, which combines the off-road vehicle (ORV), Seasonal, Commercial and Government/Defense operating segments, brought in $1,822.1 million, up 18%. Marine sales were $133.4 million, up 29%, and Aixam & Goupil $68.0 million, down 12%. (Polaris Q3 2026 release, Oct 27, 2026; Polaris Form 10-Q, Q3 2026, Oct 27, 2026)

Polaris splits sales into wholegoods (the vehicles and boats) and PG&A (parts, garments and accessories). In Q3 2026 wholegoods were $1,475.1 million and PG&A $567.5 million. Polaris Powersports PG&A rose 19%, and Powersports wholegoods were $1,264.3 million against $1,072.9 million a year earlier. (Polaris Form 10-Q, Q3 2026, Oct 27, 2026; Polaris Q3 2026 release, Oct 27, 2026)

Polaris credits higher shipment volumes and positive net price, partly offset by the divestiture of Indian Motorcycle. The sale of a majority interest in Indian Motorcycle closed on February 2, 2026, which is why Corporate sales fell to $19.1 million from $117.7 million. Marine grew on favorable product mix and higher pontoon shipments, while Aixam & Goupil fell on lower Aixam shipments. (Polaris Q3 2026 release, Oct 27, 2026; Polaris Form 10-Q, Q3 2026, Oct 27, 2026)

Polaris is mainly a North American business. North America sales were $1,815 million, 89% of the total and up 14%, while international sales were $228 million, down 11%. United States revenue was $1,677.1 million. Products reach buyers through about 2,400 independent dealers in North America and, outside it, over 1,500 independent international dealers and 70 independent distributors. (Polaris Q3 2026 release, Oct 27, 2026; Polaris Form 10-Q, Q3 2026, Oct 27, 2026; Polaris Form 10-K, 2025, Feb 13, 2026)

Polaris North America utility unit retail sales rose by a mid-single-digit percentage, recreation (excluding youth) fell by a mid-teens percentage, and total North America ORV retail rose by a low-single-digit percentage against an industry Polaris estimates was approximately flat. North America ORV dealer inventories, excluding youth, were up approximately 12%. (Polaris Form 10-Q, Q3 2026, Oct 27, 2026)

Polaris reported GAAP diluted EPS of $0.66 and adjusted EPS of $1.08 in Q3 2026, against a GAAP loss of $0.28 and adjusted EPS of $0.41 a year earlier. The biggest exclusion was $24.6 million of litigation-related expenses, $0.32 per share, for pending class action settlements and a patent infringement matter. Polaris also excludes restructuring, intangible amortization ($0.06) and losses on disposal groups. (Polaris Q3 2026 release, Oct 27, 2026)

Polaris's Q3 2026 results include $10 million of tariff refunds, which added $0.13 to adjusted EPS. Gross profit margin rose 52 basis points to 21.2% on higher net price and operational efficiencies, partly offset by higher commodity costs. Income from financial services fell to $16.5 million from $19.7 million on lower retail credit income and lower wholesale financing income from Polaris Acceptance. (Polaris Q3 2026 release, Oct 27, 2026; Polaris Form 10-Q, Q3 2026, Oct 27, 2026)

Polaris's effective income tax rate was 31.3% in the quarter. Diluted weighted average shares were 58.5 million, against 56.9 million a year earlier, when the net loss left diluted and basic shares equal. Interest expense fell to $28.2 million from $33.1 million on lower average debt levels. (Polaris Form 10-Q, Q3 2026, Oct 27, 2026; Polaris Q3 2026 release, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Polaris gives a full-year outlook in its release and raised it for the third time in 2026. It now expects 2026 adjusted sales of $7.55 billion to $7.60 billion, up from $7.30 billion to $7.50 billion, and adjusted EPS of $3.50 to $3.60, up from $3.00 to $3.10. Polaris attributes approximately $1.09 of that EPS to tariff refunds recorded in the second and third quarters. (Polaris Q3 2026 release, Oct 27, 2026)

Polaris does not reconcile the outlook to GAAP. It says it cannot forecast restructuring and acquisition integration costs without unreasonable efforts. (Polaris Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Polaris, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Polaris's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PII is on is PII a buy or a sell?, what analysts expect next is on the PII forecast, and what the company does is on the Polaris (PII) stock page.

Every number on this page can be traced to a document Polaris published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.