{"id":2948,"date":"2013-04-26T17:21:01","date_gmt":"2013-04-26T17:21:01","guid":{"rendered":"http:\/\/azureblog.smallvehicleresource.com\/?p=2948"},"modified":"2013-04-26T17:21:01","modified_gmt":"2013-04-26T17:21:01","slug":"highlights-from-the-polaris-earnings-call-q1-2013","status":"publish","type":"post","link":"https:\/\/smallvehicleresource.com\/blog\/2013\/04\/26\/highlights-from-the-polaris-earnings-call-q1-2013\/","title":{"rendered":"Highlights from the Polaris Earnings Call &#8211; Q1 2013"},"content":{"rendered":"<p>The following are the highlights of the Polaris earnings call for their first quarter 2013 earnings report as it relates to the STOV market.<\/p>\n<ul>\n<li>Total sales for the first quarter increased 11% to a record $754.9 million<\/li>\n<li>First quarter net income increased 26% to $75.5 million<\/li>\n<li>Gross profit margins were up a modest 10 basis points to 29%<\/li>\n<li>Full year sales expected to be up 12% to 15% over 2012.<\/li>\n<li>Polaris&#8217; first quarter Off-Road Vehicle (ORV) revenue increased 7% driven by side-by-side sales.<\/li>\n<li>In the first quarter consumer demand for the RANGER 900XP outpaced all other ORVs in the industry.<\/li>\n<li>Polaris gained market share in both ATVs and side-by-sides.<\/li>\n<li>ATVs down low single digits and for industry as well<\/li>\n<li>Polaris side-by-side retail grew mid-single digits in an industry estimated to grow low single digits.<\/li>\n<li>The new RZR XP 900 Jagged X has been a hit with consumers<\/li>\n<li>Major strategic initiatives included launch of Brutus commercial line, acquisition of Aixam and start of plant construction in Poland<\/li>\n<li>Brutus line will be sold through dedicated new Polaris commercial channel that already includes 400 dealers<\/li>\n<li><span style=\"color: #333333; font-style: normal; line-height: 24px;\">Initial orders for both the Brutus product and the attachment have been better than are than expected.<\/span><\/li>\n<li>Small vehicle business consisting of GEM and Goupil grew double digits<\/li>\n<li>GEM and Goupil both had good quarters, as GEM retail more than doubled in its best first quarter since 2008, while Goupil retail orders were up about 20%, significantly outperforming the European economy.<\/li>\n<\/ul>\n<p><strong>Looking Forward<\/strong><\/p>\n<ul>\n<li>Sales of Off-Road Vehicles are expected to increase in the 8% to 10% range, with retail sales of side-by-side vehicles and ATVs outpacing the overall market in North America and internationally.<\/li>\n<li>Management expects to increase ORV market share in 2013 although at a more moderate rate than the past 3 years.<\/li>\n<li>Management optimistic about new model introductions for model year 2014<\/li>\n<li>Poland facility to be online in the 2nd half 2014 mainly for producing ATVs for the European market with some side-by-side capability as well.<\/li>\n<li>Management expects to realize sourcing and engineering synergies between Goupil, Aixam and Gem<\/li>\n<li>Goal is to decrease the delivery time of for side-by-side products to dealers from 6 weeks down to 4 weeks<\/li>\n<\/ul>\n<p><a title=\"Polaris Q1 2013 Earnings Call Transcript\" href=\"http:\/\/seekingalpha.com\/article\/1363391-polaris-industries-management-discusses-q1-2013-results-earnings-call-transcript\" target=\"_blank\" rel=\"nofollow\">Learn more: ??Seekingalpha.com<\/a>??(earnings call transcript)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following are the highlights of the Polaris earnings call for their first quarter 2013 earnings report as it relates to the STOV market. Total sales for the first quarter increased 11% to a record $754.9 million First quarter net &hellip; <a href=\"https:\/\/smallvehicleresource.com\/blog\/2013\/04\/26\/highlights-from-the-polaris-earnings-call-q1-2013\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,6,7,8,12,14,18,19,23,27],"tags":[1604,1567,388,2174,1546,2189,1603,1602],"class_list":["post-2948","post","type-post","status-publish","format-standard","hentry","category-electric-vehicles","category-facilities","category-gem","category-globalization","category-management","category-market-trends","category-nev","category-new-vehicle","category-sales-figures","category-utility-vehicles","tag-aixam","tag-brutus","tag-earnings-call","tag-gem","tag-goupil","tag-polaris","tag-ranger-900-xp","tag-transcript"],"_links":{"self":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/2948"}],"collection":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/comments?post=2948"}],"version-history":[{"count":3,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/2948\/revisions"}],"predecessor-version":[{"id":2951,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/posts\/2948\/revisions\/2951"}],"wp:attachment":[{"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/media?parent=2948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/categories?post=2948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smallvehicleresource.com\/blog\/wp-json\/wp\/v2\/tags?post=2948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}