"Amid a tough year for the powersports industry, I’m proud of the Polaris team’s disciplined focus to make progress within the areas we can control. We were relentless in our efforts, resulting in continued innovation leadership with our products, a 16-percent reduction in ORV dealer inventory, and an operational efficiency savings goal that was exceeded by over $100 million. Polaris has weathered storms before, and we believe we are positioning our organization to emerge from this downcycle even stronger. While I anticipate challenging headwinds will carry forward into 2025, we will remain focused on being a strong partner to our dealers, providing our riders with high quality products and working to deliver long-term value to shareholders."
-- Mike Speetzen, Chief Executive Officer of Polaris Inc.
Financial and Operational Highlights
- Full year 2024 sales were $7,175 million, down 20 percent compared to last year.
- Full year 2024 reported diluted earnings per share was $1.95, down 78 percent versus last year; adjusted diluted earnings per share was $3.25, down 65 percent versus last year.
- Fourth quarter sales were $1,755 million, down 23 percent compared to last year.
- Fourth quarter reported diluted earnings per share was $0.19, down 90 percent versus last year; adjusted diluted earnings per share was $0.92, down 54 percent versus last year.
- Primary factors affecting fourth quarter sales were lower volume due to planned reductions in shipments as we actively managed dealer inventory in a subdued retail environment.
- Fourth quarter North America market share was flattish across all three segments.
- Powersports retail sales for the quarter were down 7 percent versus last year.
- Polaris announced full year 2025 sales and adjusted earnings guidance with full year sales expected to be down 1 to 4 percent and full year adjusted earnings per share expected to be down ~65 percent, both sales and adjusted earnings per share are compared to full year 2024.
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