Polaris withdraws q1 and full year 2020 financial guidance
Polaris provides business update related to covid-19.polaris inc - increased cash position to maintain financial strength and flexibility.polaris inc - withdraws q1 and full year 2020 financial guidance.polaris inc - withdraws q1 and full year 2020 financial guidance.polaris inc - temporary suspension of operations in select powersports manufacturing facilities.polaris inc - is suspending production schedules and plant operations for one week at select powersports plants, effective tuesday.polaris inc - suspending its share repurchase program.polaris inc - drawing down additional cash under its revolving credit facility.polaris - reviewing all operating expenses and postponing capital expenditures that do not impact near-term programs.polaris - pandemic concerns ultimately began to impact demand, which dropped suddenly in middle of last week.polaris says co adjusting operations.polaris inc - expect covid-19 to have a significant impact on 2020 financial results.polaris - as of march 20, have about $150 million in cash on hand, & another about$280 million available under current revolver.polaris - exploring access to additional capital with lending partners.polaris - cannot meaningfully quantify impact of covid-19 pandemic, limiting visibility to accurately estimate magnitude on polaris' results.polaris - during q1 of 2020, polaris reduced shipments in anticipation of weaker retail demand due to covid-19 outbreak.
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