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Third Quarter 2018 Earnings Results October 22, 2018 POLARIS INDUSTRIES INC.
Third Quarter 2018 Earnings Results
POLARIS INDUSTRIES INC. SAFE HARBOR & NON
2 Q3'18 PII Earnings 10/22/18Except for historical information contained herein, the matters set forth in this presentation, including management’s expect ations regarding 2018
future sales, shipments, net income, and net income per share, operational initiatives and impact of tax reform, and tariffs andcommodity costs are
forward -looking statements that involve certain risks and uncertainties that could cause actual results to differ materially fro m those forward -looking
statements. Potential risks and uncertainties include such factors as the Company’s ability to successfully implement its ma nufacturing operations
expansion initiatives; product offerings; promotional activities and pricing strategies by competitors; economic conditions t hatimpact consumer
spending; acquisition integration costs; product recalls, warranty expenses; impact of changes in Polaris stock price on ince ntive compensation
plan costs; foreign currency exchange rate fluctuations; environmental and product safety regulatory activity; effects of wea ther; commodity costs;
freight and tariff costs; changes to international trade agreements; uninsured product liability claims; uncertainty in the r etail and wholesale credit
markets; performance of affiliate partners; changes in tax policy and overall economic conditions, including inflation, consu merconfidence and
spending and relationships with dealers and suppliers. Investors are also directed to consider other risks and uncertainties discussed in documents
filed by the Company with the Securities and Exchange Commission. The Company does not undertake any duty to any person to p rovide updates
to its forward -looking statements.
This presentation contains certain non -GAAP financial measures, consisting of “Adjusted” sales, gross profit, income before taxe s, net income and
net income per diluted share as measures of our operating performance. Management believes these measures may be useful in pe rforming
meaningful comparisons of past and present operating results, to understand the performance of its ongoing operations and how management
views the business. Reconciliations of Adjusted non -GAAP measures to reported GAAP measures are included in the Appendix of this
presentation. These measures, however, should not be construed as an alternative to any other measure of performance determin ed in accordance
with GAAP. Scott W. Wine, Chairman & CEO
Third Quarter 2018 Earnings Results
POLARIS INDUSTRIES INC. THIRD QUARTER 2018 SUMMARY
4 Q3'18 PII Earnings 10/22/18
Q3 Results Carried Forward Momentum Generated in 1st Half of 2018Q3 financial results solid despite tariff, logistics and commodity headwinds
Tariff costs less than anticipated in Q3 due to timing, but remain a significant headwind
N.A. retail was up 1% over a strong 13% retail sales comparable in ‘17, driven by side -by-sides
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