What happened 

Shares of ATV maker Polaris Industries Inc. (NYSE:PII) plunged as much as 14.2% in trading Wednesday after reporting second-quarter 2018 results. At 2:10 p.m. EDT, shares were still down 13.7% on the day. 

So what

Revenue was up $1.50 billion and net income rose 49% to $92.5 million, or $1.43 per share. On a non-GAAP basis, which pulls out one-time costs like restructuring and acquisition expenses, revenue was up 11% to $1.51 billion and EPS was $1.77. 

Two people riding motorcycle down the road.

Polaris also manufactures motorcycles, with its Indian brand. Image source: Getty Images.

Results topped the $1.45 billion in revenue and $1.62 in EPS that analysts were expecting. But bottom-line guidance wasn't as rosy as the growth numbers might have indicated, with net income per share estimated to be $6.48 to $6.58, compared to a $6.53 estimate from Wall Street -- despite this quarter's earnings beat and revenue growth of 11% to 12% coming in above the 10% growth analysts expected. 

Now what

There was a lot to like in Polaris' results, with revenue growth hitting double digits and earnings well above expectations. And these numbers include an anticipated $40 million of costs related to tariffs in 2018, which could have been a huge headwind for the company. The market may be selling off Polaris' earnings report today, but long term, I think this is a great buying opportunity for investors. 

Travis Hoium has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Polaris Industries. The Motley Fool has a disclosure policy.