Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Polaris Industries reduced earnings forecast 43 percent because of latest recall

 


Repercussions from Polaris Industries' massive recalls hammered home Monday as the recreational vehicle maker significantly downgraded its earnings expectations for the year, saying recall costs will now reach $120 million in 2016.

The surprise downgrade, which lowered the earnings forecast by 43 percent, comes less than two weeks after Polaris recalled another 10,770 of its off-road four-wheelers, citing 19 new reports of vehicle fires that injured six people and destroyed 15 acres of Utah forest.

This month's recalls are on top of the 203,000 recreational vehicles that Medina-based Polaris previously recalled between 2015 and July due to a variety of fire hazards.

http://www.startribune.com/polaris-industries-reduced-earnings-forecast-43-percent-because-of-latest-recall/393120271/

 

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