Polaris Industries Second Quarter 2017 Results. Indian Motorcycle Retail Sales Increased 17% For Quarter.

Overall Polaris Industries sales for the second quarter of 2017 increased 21% to $1,364.9 million. Second quarter 2017 reported net income was $0.97 per diluted share; adjusted net income for the same period was $1.16 per diluted share, slightly ahead of expectations

Polaris North American ORV unit retail sales were down low-single digits percent, a sequential improvement from the first quarter, with increasing side-by-side retail sales somewhat offsetting lower ATV retail sales. Indian Motorcycle® continued to deliver strong retail sales increasing 17% for the quarter. Polaris raising full year sales guidance and narrowing its earnings per share outlook. Adjusted sales for the full year 2017 expected in the range of up 12% to 14%.

“Performance improved in many parts of our business during the quarter, particularly within our international and PG&A businesses. The powersports industry remained very competitive and headwinds persist, but we were encouraged by the return to growth in our Side-by-Side business and continued strength and aggressive share gains for Indian Motorcycles. In a weak motorcycle industry, Indian continues to demonstrate how a complementary combination of exciting new bikes, strong dealer execution and overall brand momentum can prevail. Dealer engagement is a corporate priority and from profitability to delivery and communications, the consistent progress we are making is augmenting our retail results. We still have a lot of work to do, but we are seeing results from the strong and sustainable improvements we are making to the fundamentals of our business, as we establish the foundation of a renewed growth platform,” commented Scott Wine, Chairman and Chief Executive Officer of Polaris Industries.

Wine continued, “The fruits of this labor will be on display next week, when we unveil our exciting new model year ORVs and Motorcycles. These vehicles will demonstrate our capability to deliver the innovation and quality expected from the leader in Powersports, as well as improved results and enhanced shareholder value.”

North American consumer retail demand for the Polaris motorcycle segment, including Indian Motorcycle and Slingshot, was down low-single digits percent during the 2017 second quarter, while the overall motorcycle industry retail sales, 900cc and above, was down mid-single digits percent in the 2017 second quarter. Indian Motorcycles retail sales increased 17 percent and continued to gain market share, driven by new model introductions and continued strong demand for the Company’s new highly customizable, split-screen Ride CommandTM touchscreen infotainment system available on certain models. Slingshot retail sales were down significantly due in part to tough comparables versus the prior year period driven by increased shipments in the second quarter of 2016 ahead of a production move from Iowa to Huntsville and the cadence of several limited edition models introduced in the second quarter last year.

Wind Down of Victory Motorcycles
Polaris announced on January 9, 2017 its intention to wind down its Victory Motorcycles operations. The decision is expected to improve the long-term profitability of Polaris and its global motorcycle business, while materially improving the Company’s competitive position in the industry. The Company will record costs, anticipated to be in the range of $80.0 million to $90.0 million, associated with supporting Victory dealers in selling their remaining inventory, the disposal of factory inventory, tooling, and other physical assets, and the cancellation of various supplier arrangements.

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21 Responses to “Polaris Industries Second Quarter 2017 Results. Indian Motorcycle Retail Sales Increased 17% For Quarter.”


  1. 1 NineCloud Jul 20th, 2017 at 8:42 am

    It’s much easier to be small and still grow when the market is bad. No recovery for Harley until the LiveWire is a success. Indian will also have its electric Scout before 2 years. Then everything is fine again.

  2. 2 T. Paramounted Jul 20th, 2017 at 8:47 am

    For the coming years, for used value of my bike and stock capital gain I pick PII over HOG.

  3. 3 P. Hamilton Jul 20th, 2017 at 8:49 am

    If you take only the Polaris motorcycle division they are doing very good in such a dull market. By the way, some continuing to think that Indian doesn’t steal sales to Harley? LOL.

  4. 4 BobS Jul 20th, 2017 at 9:02 am

    Yahoo finance is reporting motorcycle sales down 13% which still includes a little over 6 million dollars worth of Victory sales. Excluding that motorcycle sales are down over 15%. It looks like Indian was up a little, Victory and Slingshot were down a lot. Scott Wine continues to try and spin his failures as success but he’s screwing up royally. As Polaris sits right know they are right back where they were in 2010-2011. Back then Victory was doing a few hundred million a year in sales and rising 10-15% a year. So after millions invested in new brands, new R&D, new products launched, old ones dropped…here they are 7-8 years later doing a few hundred million a year in sales, rising around 10-15% with Indian. Freaking genius. I can’t believe the BOD hasn’t demanded his firing yet.

  5. 5 2Wheels Jul 20th, 2017 at 9:29 am

    BobS, Polaris revenue in 2010 was $1.9B, and in 2016 it was $4.5B. You call that no growth?

  6. 6 BobS Jul 20th, 2017 at 9:32 am

    2Wheels that is overall revenue including Ranger side by sides, atv’s, and snowmobile. Look at the numbers for motorcycles (which includes Slingshot). My post was accurate.

  7. 7 bd Jul 20th, 2017 at 12:44 pm

    If you sold 40 units and then 60 that is a 50% increase. You never see an indian going down the road. I see lots and lots of TC HD going down that road though. It is all hype and bull shyt

  8. 8 Pat h Jul 20th, 2017 at 1:21 pm

    I see 20 to 1 can am spyders vs Polaris fuglyians, do these figures include the left over far superior victories that they were dumping

  9. 9 Joe Jul 20th, 2017 at 3:00 pm

    Holding the line, but some nice corporate spin from the top to make it seem way better than it was. But, I hope both Polaris and H-D can keep doing well because its better for all of us and its good to see American companies succeed. Deliver products for your customers, not your shareholders and everything will work out.

  10. 10 gtrjoe Jul 20th, 2017 at 4:23 pm

    So much jealousy….Indian is a great bike with a great history. It’s nice to have a choice and the competition is only good for consumers. Haters will hate -posers will pose.
    I ride my choice, Indian and couldn’t be happier with the product. Continued success to the mother ship.

  11. 11 Matt W. Jul 20th, 2017 at 6:04 pm

    gtrjoe: Europe and Asia have had multiple competing motorcycle brands for decades. I think the “there can be only one” mentality in America is diminishing and will be relegated to a small (but vocal) minority of purists.

  12. 12 Prestaged Jul 20th, 2017 at 7:09 pm

    The amount of hate and jealousy in our little part of the world (the motorcycle part) makes my behind tired.

  13. 13 Mdkuder Jul 21st, 2017 at 8:22 am

    Great! Harley’s are not going anywhere and Indian will continue to grow. Indian are great bikes, the best I’ve ever ridden and don’t get me wrong I would like to get another HD specifically a Softail Slim. My Roadliner still has the best overall motor I’ve ever owned. Rock on motorcycle companies!

  14. 14 kent Jul 21st, 2017 at 9:48 am

    Just repair that Harley, trade it in and get an Indian, then that Hater fever will break while you are riding and smiling! HA! ha! Oh, bye the way looks like a lot of (Harley) riders (7%) have already found this out!

  15. 15 X HD Rider Jul 21st, 2017 at 11:17 am

    Is Polaris quarter report real, or is it sugar coated to make them look good.
    Sorry Yuppies buy Indians to look stylish real riders buy bikes to ride.

  16. 16 Paul Jul 21st, 2017 at 12:10 pm

    What worries me is that this seems like a zero sum game. If the HD guys are trading in their bikes on Indians there are no new riders. Just the same “old” guys, like me, continuing to ride but on a different bike. Both Indian and HD have to find the magic bullet to get the kids off the phones and out of mom’s basement riding.

  17. 17 Chris G Jul 21st, 2017 at 12:26 pm

    X HD RIDER I ride an Indian. I am curious how you seem to feel I am a yuppie and not a real rider. Have you ever ridden one? Probably not!

  18. 18 Mdkuder Jul 21st, 2017 at 1:33 pm

    X HD RIDER I bought a 03 Gilroy Scout in 09 due to the fact that HD wouldn’t deal and I’ve never looked back. Just traded my 14 Vintage for a 17 Springfield and I also have an 09 Chief Deluxe just to look at in my garage…….. I work on these, build accessories that don’t exist, modify things that need fixed due to engineers concept of what they thought it needed to be and my opinion of what it should be, I’m not a RUB are you?

  19. 19 PIIKoolAid Jul 21st, 2017 at 8:27 pm

    Haters? Jealousy? A cooked quarterly report and a product that looks like a Dr. Seuss ice cream truck is nothing to be jealous about.

  20. 20 Chris G Jul 22nd, 2017 at 3:16 pm

    PIIKOOLAID says it all. I heard harley is paying trolls online to disparage Indian. I say just make a better bike. Pressed cranks that are out 6 thou I mean really what garbage. The heart of an engine is the crank, why not forge them and do it right like Indian does….. oh right cuts into bs tough harley guy advertising costs

  21. 21 Felix Jul 23rd, 2017 at 5:01 pm

    X HD RIDER, being a dairy farmer, I don’t really see myself as a yuppie. I bought an Indian Scout because they seemed to be a superior design compared to the Sporties. It’s a great bike and have never regretted it.

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