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EX - 99.1 2 a52466260ex99_1.htm EXHIBIT 99.1 Contacts Investor Contact : Richard Edwards 763-513-3477 Media Contact : Jess Rogers 763-513-3445 Polaris Second Quarter 2021 Earnings Results Financial and Operational Highlights Second quarter reported and adjusted sales increased 40 % to $ 2,117 million , a second quarter sales record share Second quarter reported net income was $ 2.52 per share ; adjusted net income for the same period was $ 2.70 per Gross profit margin , reported and adjusted , for the second quarter was 26.0 % and 26.1 % , up 403 and 311 basis points over the prior year , respectively . The increase was primarily due to lower promotional costs and increased pricing , partially offset by increased input costs including supply chain constraints , logistic , labor and commodity prices North American retail sales decreased 28 % for the quarter compared to uncharacteristically strong retail sales last year , driven largely by low product availability due to supply chain constraints limiting production . On a two - year basis , retail sales were up 14 % over second quarter 2019 pre - COVID levels Market share improved during the quarter for ORV and boats Polaris repurchased approximately 0.8 million shares of Polaris stock during the quarter for $ 111 million Polaris increased its full year 2021 earnings guidance and now expects earnings to be in the range of $ 9.35 to $ 9.60 per Full year 2021 adjusted sales guidance was narrowed and is now expected to be up 19 % to 21 % over the prior year MINNEAPOLIS -- ( BUSINESS WIRE ) -- July 27 , 2021 -- Polaris Inc. ( NYSE : PII ) : Key Financial Data ( in millions , except per share data ) INCOME STATEMENT - Q2 June 30 , 2021 Sales Net income attributable to Polaris Diluted EPS $ $ $ BALANCE SHEET - June 30 , 2021 Cash and cash equivalents Inventories , net Total debt , finance lease obligations and notes payable $ Shareholders ' equity $ $ $ CASH FLOW - YTD Q2 June 30 , 2021 $ Net cash provided by operating activities $ Purchase of property & equipment Repurchase and retirement of common shares $ Cash dividends to shareholders $ Reported 2,117.2 158.4 2.52 Reported 288.8 1,514.9 1,331.3 1,120.6 Reported 195.6 114.4 410.5 77.0 YOY % Chg . 40 % NM NM YOY % Chg . ( 47 ) % 48 % ( 31 ) % 49 % YOY % Chg . ( 37 ) % 30 % NM 1 % Exhibit 99.1 $ $ Adjusted * 2,117.2 169.4 2.70 diluted share . YOY % Chg . 40 % 109 % 108 % 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