Polaris has reported its 4Q and 2018 full year fiscals, with adjusted sales for the fourth quarter of 2018 increased by +14% to $1,627 million.
Motorcycle segment sales, including PG&A, totalled $87 million, down -15 percent compared to the fourth quarter of 2017. Indian sales increased slightly but were more than offset by the decline in Slingshot sales.
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| Scott Wine, CEO, said that Polaris had been able to "adapt and execute our strategy to account for tariffs and other external pressures" |
Domestic U.S. motorcycle industry retail sales, 900 cc and above, were down low double-digits percent in the 2018 fourth quarter. Indian Motorcycle gained market share for the 2018 fourth quarter on a year-over-year basis. Slingshot's retail sales were down substantially during the quarter.
North American consumer retail sales for the Polaris motorcycle segment, including both Indian Motorcycle and Slingshot, decreased high-teens during the 2018 fourth quarter. Indian Motorcycle retail sales decreased low double-digits, but its 'middleweight' models were up by low single digits.
Scott Wine, Chairman and Chief Executive Officer of Polaris Industries Inc., said that "between sales growth in almost all of our segments, improved operational efficiencies and a lower tax rate, we more than offset macroeconomic and tariff headwinds. Growth and market share gains in Off-Road Vehicles further expanded our position as the global leader in powersports.
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| Indian's new 120 hp FTR 1200 will be assembled at the Polaris ATV/UTV factory in Poland from CKD kits shipped from its Spirit Lake, Iowa factory |
"We are encouraged by our growth prospects for 2019 and beyond, but keenly aware of, and prepared for, the challenges and uncertainties presented by global trade and economic complications."
Adjusted for Victory wind-down costs, gross motorcycle segment profit for the fourth quarter of 2018 was $2 million compared to $5 million in the fourth quarter of 2017. Reported total all-segment sales for the full year of 2018 increased +12% to $6,079 million. North American retail sales increased +6% for the quarter compared to last year; ORV North American retail sales were up low single digits, driven by side-by-side vehicle sales.
