Polaris Industries Incmn (PII) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Exhibit 99.1

CONTACT:
Polaris Industries Inc.
Investor Contact:
Richard Edwards, 763-513-3477
or
Media Contact:
Jess Rogers, 763-513-3445

Polaris Reports 2018 Third Quarter Results

Q3 2018 Highlights

Reported and adjusted sales for the third quarter of 2018 increased 12% to $1,651 million and $1,653 million, respectively

Reported net income was $1.50 per diluted share, up 17% over the prior year; adjusted net income for the same period was $1.86 per diluted share, up 22% over the prior year

North American retail sales increased 1% for the quarter compared to a strong 13% increase last year; ORV N.A. retail sales were up low single-digits driven by side-by-side vehicles

Dealer inventory was up 6% year-over-year for the third quarter 2018, in line with expectations

Polaris maintaining full year 2018 adjusted sales and earnings guidance with full year adjusted sales in the range of 11% to 12% over the prior year and full year adjusted earnings in the range of $6.48 to $6.58 per diluted share which includes the absorption of an estimated $40 million of tariff cost increases anticipated in 2018 before counter-measures.

MINNEAPOLIS--(BUSINESS WIRE)--October 22, 2018--Polaris Industries Inc. (NYSE: PII):

(Downloadable PDF of this press release)

CEO Commentary

“The dedication and strong execution of our Polaris team continued to drive broad based growth across the business in the third quarter. Our model year '19 product news was well received and our improving manufacturing and logistics performance accelerated the successful roll-out of RFM for side-by-sides. International growth again outpaced North America, with Indian market share gains continuing in every market we serve. We were also pleased with the early performance of Boat Holdings, the largest manufacturer of pontoon boats in the U.S. that we welcomed to our growing Powersports portfolio earlier in the quarter. Our commitment to customers and investments in the U.S. remain strong, as we broke ground on a new multi-product PG&A and aftermarket distribution center in Nevada. We are strategically and tactically committed to being a customer-centric, highly efficient growth company, and our investments demonstrate that commitment. Our goals do not eliminate or even diminish the serious challenges we face from tariffs, but they certainly increase our resolve to find acceptable solutions or offsets. We are making too much progress with our supply chain, safety and quality and innovation initiatives to have the benefits wiped out by protracted trade negotiations. The challenge is real, and so are our efforts to overcome them. We remain well-positioned with a world-class team and product line-up and are confident in our ability to deliver strong financial and operational performance in the quarter and years ahead.”

-- Scott Wine, Chairman and Chief Executive Officer of Polaris Industries Inc.