Polaris(PII) - 2023 Q3 - Earnings Call Presentation

Financial Performance - Q3 2023 sales were $2249 million, down 4% year-over-year[69] - Adjusted EPS was $2.71, down 17% year-over-year[4, 27] - Adjusted EBITDA margin was 12.6%, up 110 bps year-over-year[4, 97] - The company lowered full-year guidance due to elevated manufacturing costs, unfavorable shipment mix, and lower retail trends[62, 114] Segment Performance - Off-Road Vehicle (ORV) North America retail sales were up 5% year-over-year, but down 20% compared to 2019[73, 99] - On-Road sales were $270 million, up 19% year-over-year[100] - Marine sales were $134 million, up 48% year-over-year[18] - International sales were down 3% year-over-year[10] Market Share and Retail Trends - The company gained market share in ORV during the quarter, with North America market share up 1 point[28] - North America Indian Motorcycle gained share[29] - Dealer inventory was down approximately 10% versus 2019 and up approximately 85% versus 2022[95] - Recreation demand remains soft[6]