Polaris Industries Inc. shares fell the most in 11 weeks after the maker of off-road vehicles and Indian motorcycles slashed its full-year earnings forecast, citing delays in fixing recalled RZR trail vehicles after reports of fires.
Earnings in 2016 will be $3.30 to $3.80 a share, which is $2.50 to $2.70 a share lower than previous expected, the company said in a statement Monday. Sales, once predicted to rise as much as 2 percent, may now decline in the “mid to high-single digit percent range.” The shares closed down 5 percent, the most since June 24, at $76.79.
