Timing just isn't on the side of such manufacturers at the moment.One of the more interesting niches in the mighty automobile industry is specialty vehicles. After all, consumers don't only want cars, trucks, and motorcycles for everyday use, they also like zipping around on off-road machines and going airborne with purpose-built, next-generation aircraft. Yet the specialty business is at times even more cyclical than mainstream auto, and on discouraging recent news the cycle seemed to be approaching a low. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-11411 POLARIS INC. (Exact name of registrant as specified in its charter) Delaware 41-1790959 (State or othe ...

A tough consumer market leads to plunging sales.A weak consumer environment is eating into sales at powersports vehicle manufacturer Polaris (PII -8.89%), and the company's stock is feeling the impact.Shares of Polaris traded down 10% as of 1 p.m. ET following a weak earnings report.A challenging retail environmentPolaris is a maker of off-road vehicles, boats, and motorcycles. The company posted third-quarter earnings of $0.73 per share on sales of $1.72 billion, falling short of Wall Street's $0.88 per sh ...

Polaris Inc (PII) reported $1.72 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 23.4%. EPS of $0.73 for the same period compares to $2.71 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of -2.88%. The company delivered an EPS surprise of -16.09%, with the consensus EPS estimate being $0.87.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Polaris Inc (PII) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $2.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.09%. A quarter ago, it was expected that this snowmobile and ATV maker would post earnings of $2.27 per share when it actually produced earnings of $1.38, delivering a surprise of -39.21%.Over the last four quarters ...

MINNEAPOLIS, Oct. 22, 2024  /PRNewswire/ -- Polaris Inc. (NYSE: PII) reported third quarter 2024 financial results today through an earnings release posted on the Company's Investor Relations website at ir.polaris.com.  The earnings release will be furnished with the Securities and Exchange Commission on a Form 8-K and is available at sec.gov.  The Company will also hold a conference call with analysts and investors today at 9:00 a.m. CT.Conference Call and Webcast DetailsThe call and webcast can be accesse ...

[Third Quarter 2024 Earnings Results](index=1&type=section&id=Third%20Quarter%202024%20Earnings%20Results) Polaris experienced a significant downturn in Q3 2024, with sales and earnings per share declining sharply due to challenging market conditions [Financial and Operational Highlights](index=1&type=section&id=FINANCIAL%20AND%20OPERATIONAL%20HIGHLIGHTS) Polaris reported a **23% sales decline** to **$1.72 billion** in Q3 2024, with significant drops in EPS and market share, leading to lowered full-year guidance Q3 2024 Key Performance Indicators vs. Q3 2023 | Metric | Q3 2024 Value | Year-over-Year Change | | :--- | :--- | :--- | | Sales | $1,722 million | -23% | | Reported Diluted EPS | $0.49 | -81% | | Adjusted Diluted EPS | $0.73 | -73% | | Powersports Retail Sales | N/A | -7% | - Key factors negatively impacting sales were lower volume, product mix, and increased promotional activity[1](index=1&type=chunk) - Market share experienced a modest decline in off-road vehicles (ORV), motorcycles, and pontoons during the quarter[1](index=1&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20COMMENTARY) The CEO emphasized managing dealer inventory and driving cost efficiencies amidst a challenging retail environment expected to persist into 2025 - The company is prioritizing the health of its dealer network by anchoring production and shipment plans to a goal of lowering dealer inventory by **15% to 20%** by the end of 2024[3](index=3&type=chunk) - Management anticipates a challenging retail environment to persist through the remainder of 2024 and into the next year[3](index=3&type=chunk) - The company is focused on driving cost efficiencies in manufacturing and operations to emerge stronger and achieve long-term growth and margin expansion[3](index=3&type=chunk) [Overall Performance Summary](index=1&type=section&id=PERFORMANCE%20SUMMARY%20%28Reported%29) Worldwide sales decreased **23%** to **$1.72 billion** in Q3 2024, with net income plummeting **82%** and gross profit margin contracting by **204 basis points** Q3 2024 Financial Performance (Reported vs. Adjusted) | Metric | Reported Value | YoY Change | Adjusted Value | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Worldwide Sales | $1,722M | -23% | $1,722M | -23% | | Net Income | $28M | -82% | $41M | -74% | | Diluted EPS | $0.49 | -81% | $0.73 | -73% | | Gross Profit Margin | 20.6% | -204 bps | 20.8% | -184 bps | - North American sales decreased **26%** to **$1,473 million**, representing **85%** of total company sales, while International sales decreased **5%** to **$250 million**[4](index=4&type=chunk) - Operating expenses as a percentage of sales increased by **355 basis points** to **18.1%** compared to Q3 2023[5](index=5&type=chunk) [Segment Highlights](index=2&type=section&id=SEGMENT%20HIGHLIGHTS%20%28Reported%29) All segments experienced significant sales declines in Q3 2024, with Marine seeing the steepest drop at **36%** and the largest gross profit margin contraction Q3 2024 Segment Sales and Gross Profit Margin Performance | Segment | Sales (in millions) | YoY Change | Gross Profit Margin | Change (bps) | | :--- | :--- | :--- | :--- | :--- | | Off Road | $1,400.0 | (24)% | 21.2% | -183 bps | | On Road | $236.5 | (13)% | 16.9% | -446 bps | | Marine | $85.9 | (36)% | 12.2% | -587 bps | [Off Road](index=2&type=section&id=Off%20Road) Off Road segment sales declined **24%** to **$1.4 billion** due to lower volume, negative mix, and increased promotional spending, impacting gross profit margin - Sales decline was driven by lower volume, mix, and higher promotional spend, with PG&A (Parts, Garments & Accessories) sales decreasing by **18%**[6](index=6&type=chunk) - Polaris North America ORV unit retail sales were down **3%**, while the estimated North America industry ORV unit retail sales were down low-single digits percent[6](index=6&type=chunk) [On Road](index=2&type=section&id=On%20Road) On Road segment sales decreased **13%** to **$236.5 million** due to lower volumes, with gross profit margin contracting **446 basis points** from negative product mix - Sales were primarily driven down by lower volumes, with PG&A sales decreasing by **7%**[7](index=7&type=chunk) - North America unit retail sales for Indian Motorcycle were down low-double digits, while the comparable industry was down high-single digits[7](index=7&type=chunk) [Marine](index=2&type=section&id=Marine) Marine segment sales plummeted **36%** to **$85.9 million** due to lower volumes, resulting in a sharp **587 basis point** decline in gross profit margin - Sales results were driven by lower volumes[7](index=7&type=chunk) - Gross profit margin performance was impacted by a decrease in sales volumes and negative mix[7](index=7&type=chunk) [2024 Business Outlook](index=2&type=section&id=2024%20BUSINESS%20OUTLOOK) Polaris lowered its full-year 2024 guidance, now expecting sales to be down approximately **20%** and adjusted diluted EPS to decline approximately **65%** Updated Full-Year 2024 Guidance vs. Prior Guidance | Metric | Updated 2024 Outlook (vs. 2023) | Prior 2024 Outlook (vs. 2023) | | :--- | :--- | :--- | | Sales | Down approx. 20% | Down 17% to 20% | | Adjusted Diluted EPS | Down approx. 65% | Down 56% to 62% | [Financial Statements and Reconciliations](index=3&type=section&id=Financial%20Statements%20and%20Reconciliations) This section presents the consolidated financial statements and detailed reconciliations of GAAP to non-GAAP financial measures [Consolidated Statements of Income](index=4&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20INCOME) Q3 2024 income statement shows sales of **$1.72 billion** and net income of **$27.7 million**, both significantly lower than the prior year Q3 2024 vs Q3 2023 Income Statement Highlights (In Millions) | Account | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Sales | $1,722.4 | $2,248.9 | | Gross Profit | $354.6 | $508.8 | | Operating Income | $66.1 | $201.1 | | Net Income Attributable to Polaris Inc. | $27.7 | $151.7 | [Consolidated Balance Sheets](index=5&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of September 30, 2024, total assets were **$5.63 billion**, with inventories decreasing to **$2.00 billion** and total liabilities also declining Balance Sheet Highlights (In Millions) | Account | Sept 30, 2024 | Sept 30, 2023 | | :--- | :--- | :--- | | Total Current Assets | $2,728.2 | $3,043.3 | | Inventories, net | $1,998.9 | $2,051.7 | | Total Assets | $5,629.7 | $5,733.0 | | Total Current Liabilities | $2,252.7 | $2,438.3 | | Total Liabilities | $4,274.8 | $4,386.6 | | Total Equity | $1,345.5 | $1,335.2 | [Consolidated Statements of Cash Flows](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash from operating activities for the nine months ended September 30, 2024, sharply decreased to **$61.9 million** from **$376.0 million** in 2023 Cash Flow Highlights for Nine Months Ended Sept 30 (In Millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $61.9 | $376.0 | | Net cash used for investing activities | ($218.2) | ($345.9) | | Net cash provided by (used for) financing activities | $82.8 | ($61.4) | | Net decrease in cash | ($76.5) | ($29.2) | [Reconciliation of GAAP to Non-GAAP Measures](index=7&type=section&id=NON-GAAP%20RECONCILIATIONS) This section reconciles GAAP to non-GAAP figures, detailing adjustments for restructuring, acquisition costs, and intangible amortization impacting net income and EPS Q3 2024 GAAP to Non-GAAP Reconciliation (In Millions, Except EPS) | Metric | GAAP | Adjustments | Non-GAAP (Adjusted) | | :--- | :--- | :--- | :--- | | Gross Profit | $354.6 | $3.2 | $357.8 | | Net Income | $27.7 | $13.5 | $41.2 | | Diluted EPS | $0.49 | $0.24 | $0.73 | - For Q3 2024, the company recorded non-GAAP adjustments totaling **$12.0 million** for restructuring and acquisition-related costs[19](index=19&type=chunk) - The company also made a non-GAAP adjustment for **$4.4 million** of intangible amortization related to historical acquisitions in Q3 2024[20](index=20&type=chunk)

In its upcoming report, Polaris Inc (PII) is predicted by Wall Street analysts to post quarterly earnings of $0.87 per share, reflecting a decline of 67.9% compared to the same period last year. Revenues are forecasted to be $1.77 billion, representing a year-over-year decrease of 21.1%.The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates durin ...

Polaris Renewable Energy (TSX: PIF:CA ) shares have long been cheap as investors put too much emphasis on overblown geopolitical fears. With a dirt-cheap valuation, a solid dividend, and multiple potential catalysts, this stock could explode higher as investors Nelson retired from the corporate world at 39 and now manages his own portfolio full-time. His focus is on under covered and unappreciated Canadian dividend stocks, excellent companies at solid values which happen to pay dividends. Analyst's Disclosu ...

Factory Teammate Brock Heger Lands Second Overall, While Polaris-Supported Drivers Wayne Matlock and Branden Sims Drove Their Race-Prepped RZR Pro Rs to Third and Fourth Overall Max Eddy Jr. Finished a Respectable Fifth in Class 1 in his RZR Pro R Factory MINNEAPOLIS, Sept. 17, 2024 /PRNewswire/ -- This past Saturday at the 5th SCORE Baja 400 in Ensenada, Mexico, Polaris continued to assert its dominance in the UTV racing category, securing the top four UTV Overall and Pro UTV Open class positions. Leading ...