Third Quarter 2023 Earnings Presentation
Third Quarter 2023 Overview
Total Company Results*
Q3'23
Drivers
Y/Y Change
•
Share gains across all three businesses
N.A. retail up 5% y/y
4%
Sales
$2,249M
Adjusted
Gross Profit
Margin
22.6%
127 bps
Adjusted
EBITDA
Margin
12.6%
110 bps
.
Adjusted
EPS
$2.71
17%
。 Utility ORV up double digits y/y; gained multiple share points
。 Recreational ORV down mid-single digits y/y; but gained share
。 Indian Motorcycle down low-teens; gained modest share
。 Marine continued to see softness
Continue to see elevated manufacturing costs
Adjusted gross profit and adjusted EBITDA margins
down versus prior year
。 Unfavorable FX, mix and higher finance interest (floorplan costs)
Lowering full-year guidance due to elevated
manufacturing costs, unfavorable shipment mix and
lower retail trends
Share Gains in All 3 Segments | Lower Volume and Elevated Costs
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 3View entire presentation