Polaris First Quarter 2022 Earnings Results

MINNEAPOLIS, MN – April 26, 2022 – (Motor Sports NewsWire) – Polaris Inc. (NYSE: PII):

KEY FINANCIAL DATA

(in millions, except per share data)

Quarter ending March 31, 2022

Reported

YOY % Chg.

Adjusted*

YOY % Chg.

Sales

$

1,956.8

—

%

$

1,956.8

—

%

Gross profit margin

20.3

%

– 438

 bps

20.3

%

– 447

 bps

Total operating expenses

$

312.9

—

%

Net income attributable to Polaris

$

69.9

(48

)%

$

79.2

(46

)%

Adjusted EBITDA

$

164.5

(34

)%

Diluted EPS

$

1.14

(46

)%

$

1.29

(44

)%

*Note: the results and guidance in this release, including the highlights above, include references to non-GAAP operating measures, which are identified by the word “adjusted” preceding the measure. A reconciliation of GAAP / non-GAAP measures can be found at the end of this release.

CEO COMMENTARY

Sales for this quarter remained relatively flat to last year, depressed by continued supply chain pressures. While much of our focus centers on navigating the highly volatile and challenging supply chain environment, demand for our industry-leading products and services remains healthy, as we continued to see high levels of pre-sold orders and low cancellations, strong short- and long-term repurchase rates, and record levels of PG&A attachments. We are making strategic investments in both innovation and operations to enable our long-term growth plans and productivity needs and strengthen our position as the global leader in powersports. The Polaris team remains laser focused on executing against our plans for this year and delivering for our customers, dealers and shareholders.

— Mike Speetzen, Chief Executive Officer of Polaris Inc.

PERFORMANCE SUMMARY (Reported)

Polaris Inc. (NYSE: PII) (the…

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