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Jun 30, 2023
Polaris Q2 2023 Earnings Report
Polaris' second quarter results reflected a strong focus and dedication, with improved demand and industry-leading products driving retail growth. The company raised its full-year sales guidance due to strong performance in the first half of the year.
Key Takeaways
Polaris Inc. reported a 7% increase in worldwide sales, reaching $2,217 million compared to Q2 2022. Reported diluted EPS was $2.32, a 1% decrease year-over-year, while adjusted diluted EPS was $2.42, remaining flat. The company is raising its full-year sales guidance.
Second quarter sales were $2,217 million, up seven percent compared to last year.
Second quarter reported diluted earnings per share from continuing operations was $2.32, down one percent versus last year; adjusted diluted earnings per share from continuing operations was $2.42, flat versus last year.
Market share gains in Off Road, On Road and Marine segments.
Powersports retail sales for the quarter were up 14 percent versus last year driven by a more than 50 percent increase in On Road, as well as double-digit percentage growth in Off Road.
Polaris
Polaris
Polaris Revenue by Segment
Polaris Revenue by Geographic Location
Revenue by Segment
Off-Road Revenue
CapyFin.comMarine Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The Company updated its 2023 sales outlook to up three percent to six percent versus its previous outlook of flat to up five percent versus 2022. The Company now expects adjusted diluted EPS from continuing operations attributed to Polaris Inc. common shareholders to be down two percent to up three percent versus 2022 versus the prior outlook of down three percent to up three percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income