Polaris Q1 sales up 22% to $2.18B; adjusted EPS $2.05 beats prior year by 55%

Polaris Inc.

2023-Q1 EPS reported $1.95 revenue$2,179,700,000

Sales of $2,180M (+22% YoY); North America sales up 24% to $1,842M, international up 16%.
Reported diluted EPS $1.95 (+61% YoY); adjusted diluted EPS $2.05 (+55% YoY).
Gross margin 21.5% (+172 bps reported); Off Road segment sales $1,592M (+19%), On Road $324M (+42%), Marine $264M (+25%).
North America ORV retail down 10% vs industry down low-double digits; Indian Motorcycle retail flat vs industry down low-double digits.
2023 guidance reaffirmed: sales flat to +5%, adjusted EPS -3% to +3% vs 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Polaris Inc. reported first quarter 2023 results: revenue $2,180 million, net income $113 million, EPS $1.95. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $2,180 million
Net income: $113 million
EPS: $1.95
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The Company reported worldwide sales of $2,180 million, up 22 percent versus the first quarter of 2022. North America sales of $1,842 million represented 85 percent of total company sales and increased 24 percent from $1,491 million in 2022. International sales of $338 million represented 15 percent of total company sales and increased 16 percent versus the first quarter of 2022. Sales growth in the first quarter of 2023 was driven by sustained shipment momentum supported by continued improvement in the supply chain supporting share gains in Off Road and On Road, as well as favorable net pricing and product mix. Investor Contact: J.C. Weigelt 763-542-0525 | Media Contact: Jess Rogers 763-513-3445 Page 1 First Quarter 2023 Earnings Results As reported, first quarter net income from continuing operations attributable to Polaris of $113 million increased 53 percent and diluted earnings per share from continuing operations ("EPS") of $1.95 increased 61 percent compared to the first quarter

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Source: SEC EDGAR

accession 0001628280-23-012612

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