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Mar 31, 2024
Polaris Q1 2024 Earnings Report
Polaris' first quarter sales decreased by 20% compared to the previous year, with adjusted EPS exceeding expectations and market share gains in ORV, motorcycles, and Marine.
Key Takeaways
Polaris Inc. reported a 20% decrease in worldwide sales for the first quarter of 2024, totaling $1,736 million. Net income attributable to Polaris decreased by 97% to $4 million, with diluted EPS down 96% to $0.07. Adjusted EPS was $0.23, a decrease of 89% compared to the first quarter of 2023. The company gained market share in off-road vehicles, motorcycles, and Marine.
First quarter sales were $1,736 million, a 20% decrease compared to last year.
Reported diluted earnings per share was $0.07, down 96% versus last year; adjusted diluted earnings per share was $0.23, down 89% versus last year.
Market share gains were achieved in off-road vehicles, motorcycles, and Marine.
Powersports retail sales were down 10% versus last year, but up 3% excluding snow.
Polaris
Polaris
Polaris Revenue by Segment
Polaris Revenue by Geographic Location
Revenue by Segment
Off-Road Revenue
CapyFin.comMotorcycles Revenue
CapyFin.comMarine Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company continues to expect 2024 sales to be down five to seven percent versus 2023. The Company continues to expect adjusted diluted EPS attributed to Polaris Inc. common shareholders to be down 10 to 15 percent versus 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income