Third Quarter 2023 Earnings Presentation
Q3 2023 Financial Results
Sales
$2,341
.
$25
$10
$2,249
($127)
Q3 2022
Volume
Mix/
Net Price/
Cost
FX
Q3 2023
·
Adjusted* EBITDA
.
$320
$9
$283
($30)
($9)
($7)
.
Margin
13.7%
Margin
12.6%
Financial Highlights (Y/Y)
Quarterly sales of $2.2B, down 4%
。 Lower shipment volumes and higher finance interest
。 International sales were down 3%
Latin America contribution offset by EMEA and Asia Pacific
。 PG&A sales were up 12%
Adjusted* EBITDA margin down 110 bps
。 Unfavorable FX and mix
o Higher finance interest
Adjusted* EPS of $2.71, down 17%
Other items:
。 Effective tax rate of 16.6%
Favorable R&D tax credits
。 Net interest expense of $33M
Q3 2022
Volume
Mix/
Net Price/
Operating
Expenses
FX
Q3 2023
"
Cost
o Average outstanding diluted shares ~58M
Down 4% year-over-year
Margin Pressure Impacted by Lower Shipments and Unfavorable Finance Interest
POLARIS
*Please refer to the supporting schedules entitled "Non-GAAP Reconciliation" for reconciliations of adjusted or non-GAAP measures to the most directly
comparable GAAP financial measures, which can be found in the appendix of this presentation and on our website at www.ir.polaris.com.
Q3'23 Earnings 10/24/23 7View entire presentation