Exhibit 99.1

Polaris Fourth Quarter & Full Year 2019 Results

Fourth Quarter & Full Year 2019 Highlights

Fourth quarter reported and adjusted sales increased 7% to $1,736 million

Fourth quarter reported net income was $1.58 per diluted share; adjusted net income for the same period was $1.83 per diluted share

Full year reported and adjusted sales increased 12% to $6,783 million

Full year 2019 reported net income was $5.20 per diluted share; adjusted net income for the same period was $6.32 per diluted share, exceeding the high-end of previously issued guidance

North American retail sales increased 2% for the quarter compared to last year; ORV N.A. retail sales were up low-single digits percent, Indian motorcycles retail sales were up low-single digits percent

Polaris announced full year 2020 sales and adjusted earnings guidance with full year sales growth in the range of 2% to 4% over the prior year and full year adjusted earnings in the range of $6.80 to $7.05 per diluted share.

MINNEAPOLIS--(BUSINESS WIRE)--January 28, 2020--Polaris Industries Inc. (NYSE: PII):

 

Key Financial Data









 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

INCOME STATEMENT - Q4 December 31, 2019

Reported

 

YOY % Chg.

 

 

Adjusted*

 

YOY % Chg.

Sales

$

1,735,866

 

 

7%

 

 

$

1,735,866

 

 

7%

Net income attributable to Polaris

$

98,931

 

 

8%

 

 

$

114,858

 

 

1%

Diluted EPS

$

1.58

 

 

7%

 

 

$

1.83

 

 

—%

 

 

 

 

 

 

 

 

 

BALANCE SHEET - December 31, 2019

Reported

 

YOY % Chg.

 

 

 

 

 

Cash and cash equivalents

$

157,064

 

 

(3)%

 

 

 

 

 

Inventories, net

$

1,121,111

 

 

16%

 

 

 

 

 

Total debt, finance lease obligations and notes payable

$

1,693,509

 

 

(14)%

 

 

 

 

 

Shareholders' equity

$

1,107,999

 

 

28%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOW - YTD December 31, 2019

Reported

 

YOY % Chg.

 

 

 

 

 

Net cash provided by operating activities

$

655,036

 

 

37%

 

 

 

 

 

Purchase of property & equipment

$

251,374

 

 

12%

 

 

 

 

 

Repurchase and retirement of common shares

$

8,378

 

 

(98)%

 

 

 

 

 

Cash dividends to shareholders

$

149,101

 

 

—%

 

 

 

 

 

*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

"We ended the year with positive fourth quarter retail momentum in both Off-Road Vehicles and Motorcycles, supporting strong full year, broad-based sales growth of 12 percent. While TAP grew modestly in the fourth quarter, non-TAP Parts, Garments and Accessories (PG&A) and aftermarket sales stole the show, eclipsing $1 billion for the first time in 2019. Our recent leadership changes were made to spur both tactical and strategic growth, and the 37 percent increase in Indian Motorcycle sales in the fourth quarter, driven largely by the Indian Challenger, demonstrates what is possible as Mike Dougherty takes over that important segment. Steve Menneto is aggressively moving to accelerate retail performance in Off-Road Vehicles and Snowmobiles, building off a strong year of financial performance in our largest business. In 2019, we delivered strong operational performance across Polaris, especially productivity and delivery, and we expect further gains to create value for customers and shareholders in the year ahead. Our commitment to being a customer-centric highly profitable growth company is unwavering, and I am extremely confident in this Polaris team to deliver on that promise."

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


The following information was filed by Polaris Industries Incmn (PII) on Tuesday, January 28, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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