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)

               

Key Financial Data

 
(in thousands, except per share data)
INCOME STATEMENT - Q3 September 30, 2018 Reported YOY % Chg. Adjusted* YOY % Chg.
Sales $ 1,651,415 12% $ 1,653,130 12%
Net income $ 95,529   17% $ 117,926   21%
Diluted EPS $ 1.50   17% $ 1.86   22%
 
BALANCE SHEET - Q3 September 30, 2018 Reported YOY % Chg.
Cash and cash equivalents $ 183,411 39%
Inventories, net $ 1,019,517 21%
Total debt, capital lease obligations and notes payable $ 1,864,327 103%
Shareholders' equity $ 898,252
 
CASH FLOW - YTD September 30, 2018 Reported YOY % Chg.
Net cash provided by operating activities $ 354,138 (29)%
Purchase of property & equipment $ 157,763 25%
Repurchase and retirement of common shares $ 246,931 178%
Cash dividends to shareholders $ 112,748 4%
Acquisition of businesses $ 729,925 NM
 
NM = Not meaningful
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

“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.


The following information was filed by Polaris Industries Incmn (PII) on Monday, October 22, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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