"It is an honor to mark the opening of this unique off-road electric charging network developed in partnership with the State of Michigan and the local communities along this trail system. Polaris and Michigan are connected in our efforts to bring exciting innovation and the latest technology to outdoor recreation," said Andrew Chasse, vice president of Strategy and Partnerships, Polaris. "I'd like to thank the Michigan Economic Development Corporation in particular for allowing Polaris the opportunity to p ...

Customers May Now Enjoy Boating Adventures at Select Outfitter Locations Across the U.S. MINNEAPOLIS, June 5, 2024 /PRNewswire/ -- Polaris Adventures, the experience business of global powersports leader Polaris Inc. (NYSE: PII), announces the expansion of boat rentals across its ever growing network, providing more ways for customers to enjoy the outdoors. Polaris Adventures offers boat rentals at 35 locations across Arizona, Florida, Illinois, Maine, Michigan, Minnesota, North Carolina, Pennsylvania, Texa ...

The All-New 2025 Sportsman 570 2-Up Lineup Features Refreshed Styling, all new Seat Comfort and Ergonomics, and Durability Upgrades Additional features and pricing for the Sportsman Touring, X2 and 6x6 models are as follows: Sportsman Touring 570 – Starting at $9,999 U.S. MSRP ($11,799 CA MSRP) Sportsman Touring 570 EPS – Starting at $10,999 U.S. MSRP ($12,699 CA MSRP) Sportsman Touring 570 Premium – Starting at $12,499 U.S. MSRP ($14,399 CA MSRP) The next generation Sportsman Touring 570 lineup offers vers ...

Polaris-Supported Driver Branden Sims Finishes Second Overall Behind the Wheel of a Race-Prepped RZR Pro R MINNEAPOLIS, June 3, 2024 /PRNewswire/ -- The 56th running of the SCORE Baja 500 took place this past weekend, where the Polaris Factory Racing team continued its winning streak as Cayden MacCachren, along with his co-driver Hailey Hein, delivered a dominant performance to secure the prestigious UTV Overall and UTV Pro Open class victory. This marked MacCachren's third consecutive SCORE series win, sho ...

With a long track record of delivering profitability, Polaris stands out in a cyclical industry. Polaris (PII 0.63%) has grown into the leading powersports vehicle manufacturer in North America, with its sales rising sixfold since 2000. Over this time, Polaris has more than tripled the total returns of the S&P 500 index. However, over the last decade, it has been an entirely different story. Despite doubling its revenue across the last 10 years, Polaris' total returns have declined by 16% as the market cont ...

Polaris continues to act as a steward for its employees, riders, communities and the outdoors MINNEAPOLIS, May 16, 2024 /PRNewswire/ -- Polaris Inc. (NYSE: PII) today released its 2023 Geared For Good Report detailing Polaris' continued focus on operating in a responsible manner to support its employees, riders, communities where it operates and in the outdoors. Polaris Inc. today released its 2023 Geared For Good Report detailing Polaris' continued focus on operating in a responsible manner to support its ...

Financial Performance - Polaris Inc. reported sales of $1,736.4 million for the three months ended March 31, 2024, a decrease of 20.2% compared to $2,179.7 million in the same period of 2023[12]. - The company's gross profit for Q1 2024 was $330.3 million, down 29.6% from $469.2 million in Q1 2023[12]. - Operating income fell to $39.0 million in Q1 2024, a decline of 75.8% from $161.1 million in the prior year[12]. - Net income attributable to Polaris Inc. was $3.8 million for Q1 2024, a significant drop of 96.7% compared to $113.4 million in Q1 2023[12]. - Adjusted EBITDA for the first quarter was $110.0 million, a decline of 54% from $238.1 million in the previous year[80]. - The effective income tax rate increased to 49.3% from 21.7% due to unfavorable share-based compensation adjustments[90]. - The company reported a comprehensive loss of $2.3 million for Q1 2024, contrasting with a comprehensive income of $126.2 million in Q1 2023[14]. Revenue Breakdown - Total revenue for the three months ended March 31, 2024, was $1,736.4 million, a decrease of 20.3% compared to $2,179.7 million for the same period in 2023[34]. - Wholegoods revenue decreased from $1,782.0 million in Q1 2023 to $1,325.3 million in Q1 2024, representing a decline of 25.5%[34]. - Revenue from the United States was $1,342.8 million in Q1 2024, down from $1,694.6 million in Q1 2023, a decrease of 20.8%[34]. - Off Road segment sales decreased by 16% to $1,335.7 million, while On Road sales fell 14% to $277.2 million, and Marine sales plummeted 53% to $123.5 million[95]. Assets and Liabilities - Total current assets increased to $2,732.6 million as of March 31, 2024, compared to $2,691.7 million at the end of 2023[10]. - Total liabilities rose to $4,175.6 million as of March 31, 2024, up from $4,085.2 million at the end of 2023[10]. - Cash and cash equivalents decreased to $318.8 million as of March 31, 2024, down from $367.8 million at the end of 2023[10]. - The company’s retained earnings decreased to $197.3 million as of March 31, 2024, from $243.5 million at the end of 2023[10]. - Total financing obligations as of March 31, 2024, were $2,068.2 million, an increase from $1,908.4 million as of December 31, 2023[43]. Shareholder Returns - The company declared a dividend of $0.66 per share for the three-month period ended March 31, 2024, compared to $0.65 per share for the same period in 2023[17]. - Cash dividends declared and paid per common share increased to $0.66 for the three months ended March 31, 2024, compared to $0.65 for the same period in 2023[53]. - The company repurchased approximately 0.2 million shares of its common stock for $16.0 million during the three months ended March 31, 2024, with an additional $1,175.1 million authorized for future repurchases[52]. Operating Expenses and Cash Flow - Operating expenses decreased by 4% to $313.2 million, but as a percentage of sales, they increased to 18.0% from 14.9%[80]. - Net cash provided by operating activities was $(105.4) million, compared to $124.2 million in the prior year[19]. - The company experienced a net cash used for operating activities of $105.4 million in Q1 2024, contrasting with a net cash provided of $124.2 million in Q1 2023[19]. Other Financial Metrics - The company recorded $62.9 million in depreciation and amortization for the three months ended March 31, 2024, compared to $61.8 million in 2023[19]. - Borrowings under financing obligations increased to $842.0 million in Q1 2024, up from $573.4 million in Q1 2023[19]. - The fair value of long-term financing obligations was approximately $2,099.2 million as of March 31, 2024, compared to $1,954.3 million at the end of 2023[25]. - The company had an accrual of $135.2 million for probable payments related to product liability litigation as of March 31, 2024[63].

Polaris, Inc. (NYSE:PII) Q1 2024 Earnings Conference Call April 23, 2024 10:00 AM ET Company Participants J.C. Weigelt - Vice President of Investor Relations Michael Speetzen - Chief Executive Officer Robert Mack - Chief Financial Officer Conference Call Participants Craig Kennison - Baird Noah Zatzkin - KeyBanc Capital Markets Joseph Altobello - Raymond James Fred Wightman - Wolfe Research, LLC Megan Alexander - Morgan Stanley Alexander Perry - BofA SECURITIES David MacGregor - Longbow Research James Hardi ...

First Quarter 2024 Earnings Presentation Safe Harbor & Non-GAAP Measures The data source for retail sales figures included in this presentation is registration information provided by Polaris dealers in North America and Europe compiled by the Company or Company estimates and other industry data sources. The Company relies on information that its dealers or other third parties supply concerning retail sales, and other retail sales data sources related to Polaris and the powersports industry, and this inform ...

First Quarter 2024 Earnings Results April 23, 2024 FINANCIAL AND OPERATIONAL HIGHLIGHTS KEY FINANCIAL DATA | (in millions, except per share data) | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | Quarter ended March 31, 2024 | | Reported | YOY % Chg. | | Adjusted* | YOY % Chg. | | Sales | $ | 1,736.4 | (20)% | $ | 1,736.4 | (20)% | | Gross profit margin | | 19.0 % | -250 bps | | 19.0 % | -248 bps | | Total operating expenses | $ | 313.2 | (4)% | | | | | Net income attributable to Polaris | $ | 3.8 ...