Financial Performance - Total sales for 2023 reached $8.9 billion, a 4% increase from 2022, driven by product mix and increased shipments [158]. - Net income from continuing operations attributable to Polaris Inc. was $502.8 million, a decrease of 17% from 2022, with diluted earnings per share dropping from $10.04 to $8.71 [159]. - Adjusted EBITDA for 2023 was $1,020.9 million, down 5% from $1,075.9 million in 2022, reflecting increased operating expenses and higher finance interest [161]. - Gross profit remained stable at $2.0 billion, but as a percentage of sales, it decreased to 21.9% from 22.8% in 2022 [158]. - Total gross profit for 2023 was $1,959.9 million, remaining stable compared to $1,959.5 million in 2022, with a gross profit margin of 21.9% [176]. - Comprehensive income for 2023 was $532.8 million, an increase from $437.0 million in 2022, showing improved overall financial health [264]. - Net income for 2023 was $502.7 million, an increase of 12.5% compared to $447.6 million in 2022 [270]. Sales and Revenue - Total sales for 2023 reached $8,934.4 million, a 4% increase from $8,589.0 million in 2022 [187]. - Sales in the United States increased by 5% to $7.1 billion, accounting for 80% of total sales [163]. - Off Road segment sales increased by 9% to $6,984.4 million, driven by increased shipments and a favorable product mix [175]. - On Road segment sales rose by 2% to $1,184.6 million, with a 5% increase in average per unit sales price [179]. - Marine segment sales decreased by 23% to $765.4 million, primarily due to decreased shipments [181]. - Wholegoods revenue reached $7,122.1 million in 2023, up from $6,945.8 million in 2022, reflecting a growth of 2.5% [324]. - The United States accounted for $7,122.2 million of total revenue in 2023, representing approximately 79.7% of total revenue [324]. Expenses and Costs - Operating expenses increased by 11% to $1,339.4 million in 2023, primarily due to higher selling and marketing and general and administrative expenses [161]. - Research and development expenses increased to $374.3 million in 2023, up from $366.7 million in 2022, reflecting a commitment to innovation [262]. - Depreciation and amortization expenses for 2023 were $258.9 million, compared to $232.8 million in 2022, reflecting an increase of 11.2% [270]. - The company incurred advertising expenses of $94.1 million, $87.6 million, and $90.8 million for the years ended December 31, 2023, 2022, and 2021, respectively [306]. Cash Flow and Investments - Cash provided by operating activities increased to $925.8 million in 2023, up from $534.5 million in 2022 [190]. - Total cash used for investing activities was $(462.0) million, an increase from $(319.3) million in 2022 [190]. - Net cash used for investing activities of continuing operations was $462.0 million, compared to $319.3 million in 2022, indicating a 44.6% increase [270]. - Cash and cash equivalents rose to $367.8 million in 2023, compared to $324.5 million in 2022, marking an increase of 13.3% [260]. Debt and Financing - The company had outstanding borrowings of $228.2 million under its $1.0 billion Revolving Loan Facility as of December 31, 2023 [195]. - In November 2023, the company issued $500 million in Senior Notes at a 6.950% interest rate, maturing in March 2029 [199]. - The debt to total capital ratio improved to 57% as of December 31, 2023, down from 65% in the previous year [201]. - Total borrowings under financing obligations were $2,770.0 million, a decrease from $2,987.5 million in 2022 [270]. - The weighted-average interest rate for total borrowings as of December 31, 2023, was 5.67% [346]. Shareholder Returns - The company declared a quarterly cash dividend of $0.66 per share for Q1 2024, marking a 2% increase and the 29th consecutive year of increased dividends [160]. - The company declared cash dividends of $2.60 per share in 2023, up from $2.56 in 2022, indicating a focus on returning value to shareholders [268]. - The company authorized an additional $1,185.1 million for share repurchases, having repurchased 1.6 million shares for $178.6 million in 2023, positively impacting diluted net income per share by 13 cents [202]. Assets and Liabilities - Total assets increased to $5,516.3 million in 2023, up from $5,217.9 million in 2022, reflecting a growth of 5.7% [260]. - Total liabilities decreased to $4,085.2 million in 2023 from $4,103.8 million in 2022, a reduction of 0.5% [260]. - Total accrued expenses increased to $1,123.6 million as of December 31, 2023, compared to $896.8 million in 2022, marking a rise of 25.3% [322]. Warranty and Liability - The accrued warranty liability increased to $181.1 million as of December 31, 2023, compared to $172.9 million in the previous year [210]. - The warranty reserve balance at the end of 2023 was $181.1 million, an increase from $172.9 million in 2022, with additions charged to expense amounting to $209.1 million in 2023 [308]. - The company reported accruals of $136.7 million for product liability claims as of December 31, 2023, up from $107.5 million in 2022 [211]. Currency and Foreign Exchange - A hypothetical 10% fluctuation of the U.S. dollar compared to the Euro could impact annual operating income by approximately $21 million, while the same fluctuation against the Canadian dollar could impact it by approximately $47 million [224]. - In 2023, foreign currencies negatively impacted net income compared to 2022, and a similar negative impact is expected in 2024 compared to 2023 [226]. Goodwill and Intangible Assets - Goodwill as of December 31, 2023, increased to $394.4 million from $386.2 million in 2022, reflecting a growth of 3.0% [355]. - Other intangible assets, net, decreased to $512.0 million in 2023 from $524.4 million in 2022, a decline of 2.5% [355]. - Total goodwill and other intangible assets, net, amounted to $906.4 million in 2023, down from $910.6 million in 2022, a decrease of 0.5% [355].

Polaris, Inc. (NYSE:PII) Q4 2024 Earnings Conference Call January 30, 2024 11:00 AM ET Company Participants J.C. Weigelt - Vice President, Investor Relations Michael Speetzen - Chief Executive Officer Robert Mack - Chief Financial Officer and Executive Vice President of Finance and Corporate Development Conference Call Participants Fred Wightman - Wolfe Research Megan Alexander - Morgan Stanley Craig Kennison - Baird Joseph Altobello - Raymond James Tristan Thomas-Martin - BMO Capital Markets Sabahat Khan - ...

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, 2023 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 ...

Polaris Inc. (NYSE:PII) Q3 2023 Q3 2023 Earnings Conference Call October 24, 2023 10:00 AM ET Company Participants J.C. Weigelt - Vice President, Investor Relations Mike Speetzen - Chief Executive Officer Bob Mack - Chief Financial Officer and Executive Vice President Conference Call Participants Joe Altobello - Raymond James Craig Kennison - Robert W. Baird and Company Robin Farley - UBS Megan Alexander - Morgan Stanley Fred Wightman - Wolfe Research Tristan Thomas - BMO Capital Markets Dave MacGregor - Lo ...

October 24, 2023 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 information is subject to revision. Retail sales references to ...

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 June 30, 2023 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. Indicate by check mark whether the registrant (1) has filed all reports required to be filed b ...

Polaris Inc. (NYSE:PII) Q2 2023 Earnings Conference Call July 25, 2023 10:00 AM ET Company Participants J.C. Weigelt - Head, IR Mike Speetzen - CEO Bob Mack - CFO Conference Call Participants Craig Kennison - Baird James Hardiman - Citi Noah Zatzkin - KeyBanc Capital Markets Fred Wightman - Wolfe Research Joe Altobello - Raymond James Arpine Kocharian - UBS Tristan Thomas-Martin - BMO Capital Markets David MacGregor - Longbow Research Jamie Katz - Morningstar Xian Siew - BNP Paribas Brandon Rolle - D.A. Dav ...

• Promotions returned, although still below 2019 levels • Net pricing was positive N.A. ORV Retail Trends Customer Trends and Insights ORV Dealer Insights o Year playing out better than initially expected P 3LARIS • All-new platform with rugged design and stronger chassis • 114 HP ProStar 1000 Gen2 engine • Largest accessory portfolio at launch ever (100+), including the all-new customizable Lock & Ride MAX cargo system Rider-Driven Innovation at a New Level 2016 - 2019 AVERAGE RETAIL & DEALER INVENTORY • 2 ...

Polaris Inc. (NYSE:PII) Q1 2023 Results Conference Call April 25, 2023 10:00 AM ET Company Participants J.C. Weigelt - Head of IR Mike Speetzen - CEO Bob Mack - CFO Conference Call Participants Fred Wightman - Wolfe Research Joe Altobello - Raymond James Craig Kennison - Robert W. Baird Robin Farley - UBS James Hardiman - Citi Noah Zatzkin - KeyBanc David MacGregor - Longbow Research Jamie Katz - Morningstar Gerrick Johnson - BMO Capital Markets Sabahat Khan - RBC Xian Siew - BNP Paribas Scott Stember - ROT ...

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 March 31, 2023 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) Minnesota 41-1790959 (State or other j ...