Q1 2026 Polaris Inc Earnings Call Transcript
Key Points
- Polaris Inc (PII) reported an 8% increase in sales, or 14% organically, excluding Indian Motorcycle impacts.
- The company delivered an adjusted EPS of $0.13, exceeding expectations.
- Polaris Inc (PII) achieved double-digit growth in its Power Sports segment, driven by the utility RANGER line and snowmobiles.
- Gross margins improved by 389 basis points despite a 240 basis point headwind from tariffs.
- The company gained market share in both ORV and Snow categories for the fourth consecutive quarter.
- Geopolitical tensions and rising oil prices led to a decline in retail performance starting in mid-March.
- Marine retail was down in the first quarter, with a low double-digit decline according to the SSI report.
- Tariffs posed a 240 basis point headwind in the quarter, impacting overall financial performance.
- The recreational category continues to be challenged, with retail down high single digits.
- Uncertainty around consumer behavior and evolving tariff policies are causing caution in future outlooks.
Good morning, and welcome to the Polaris first-quarter 2026 earnings conference call. (Operator Instructions). Please note, this event is being recorded. I would now like to turn the conference over to J.C. Weigelt, Vice President, Investor Relations. Please go ahead.
Thank you, Gary, and good morning or afternoon, everyone. I'm J.C. Weigelt, Vice President of Investor Relations at Polaris. Thank you for joining us for our 2026 first quarter earnings call. We will reference a slide presentation today, which is accessible on our website at ir.polaris.com.
Joining me on the call today are Mike Speetzen, our Chief Executive Officer; and Bob Mack, our Chief Financial Officer. Both have prepared remarks summarizing our 2026 first quarter results as well as our expectations for the remainder of 2026 and then we'll take your questions.
During the call, we will be discussing various topics, which should be considered forward-looking for the purpose of the Private Securities Litigation
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