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Jun 30, 2024
Polaris Q2 2024 Earnings Report
Polaris's second quarter sales decreased by 12 percent, with a significant drop in reported and adjusted diluted earnings per share.
Key Takeaways
Polaris Inc. reported a challenging second quarter with a 12% decrease in sales compared to the previous year. The primary factors affecting sales were lower volume and net pricing due to higher promotional spending. The company has lowered its full-year sales and adjusted earnings guidance to reflect these challenges and the decision to cut shipments.
Second quarter sales were $1,961 million, a decrease of 12% compared to last year.
Reported diluted earnings per share decreased by 48% to $1.21, while adjusted diluted earnings per share decreased by 43% to $1.38.
The decrease in sales was primarily driven by lower volume and net pricing, influenced by increased promotional spending.
Polaris has lowered its full-year 2024 Company sales and adjusted earnings guidance.
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 updated its 2024 sales outlook to be down 17 to 20 percent versus its previous outlook of down five to seven percent versus 2023. The Company now expects adjusted diluted EPS attributed to Polaris Inc. common shareholders to be down 56 to 62 percent versus 2023 versus the prior outlook of down 10 to 15 percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income