Polaris Inc’s Revenue by Segment (2016-2022)

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This statistic highlights Polaris Inc’s Revenue by Segment, split across Aftermarket, Boats, Global Adjacent Markets, Motorcycles, and ORV/Snowmobiles, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Polaris Inc’s Revenue by Segment, split across Aftermarket, Boats, Global Adjacent Markets, Motorcycles, and ORV/Snowmobiles, reported on a quarterly basis from Q1 2016 onwards.

Polaris Inc’s Revenue by Segment

Revenue by Segment  Q3 2020  Q2 2021  Q3 2021 Revenue Mix by Segment in Q3 2021
Aftermarket $237.20 $239.50 $226.70 12%
Global Adjacent Markets $106.60 $154.10 $146.50 7%
Boats $155.10 $197.60 $183.60 9%
Motorcycles $166.90 $211.70 $194.40 10%
ORV/Snowmobiles $1,288.80 $1,314.30 $1,203.30 62%
Total $1,954.60 $2,117.20 $1,954.50 100%

(All figures in millions, except percentages)

The company’s total revenue witnessed a slight decline in revenue from $1954.6 million in Q3 2020 to $1954.5 million in Q3 2021, amounting to approximately 0.005% on a year-on-year basis. Revenue also declined by 7.7% on a quarter-on-quarter basis when compared to $2117.2 million in Q2 2021.

Aftermarket

Aftermarket parts, garments and accessories are sold through dealers, retailers, and aftermarket e-commerce. It includes Transamerican Auto Parts (TAP) which manufactures, distributes, and installs off-road Jeep and truck accessories and uses retail stores, call centres, and e-commerce platforms to offer its services. Brands included under the Aftermarket segment include Kolpin, Pro Armor, Klim, 509 and Trail Tech.

There has been a decrease in revenue from $237.20 million in Q3 2020 to $226.70 million in Q3 2021, falling by 4.42% on a year-on-year basis. The revenue declined from $239.5 million in Q2 2020 to $226.7 million in Q3 2021, approximately by 5.34% on a quarterly basis, due to a decline in sales and an increase in the input cost. It contributes 12% to the company’s total revenue in Q3 2021.

Global Adjacent Markets

The global adjacent market designs and manufactures vehicles used in commercial activities and passenger vehicles. This includes the manufacture of light-duty hauling, defense vehicles, people movers, etc. Brands included under Global Adjacent Markets are GEM, Goupil, Aixam and ProXD.

There has been an increase in revenue from $106.6 million in Q3 2020 to $146.5 million in Q3 2021, growing by 37.43% on a year-on-year basis, due to an increase in demand in North America and EMEA. But there has been a decline in revenue from $154.1 million in Q2 2021 to $146.5 million in Q3 2021, approximately by 4.93% quarterly, due to an increase in input cost. It contributes 7% to the company’ total revenue in Q3 2021.

Boats

The company completed the acquisition of Boat Holdings, LLC, which manufactures boats, in 2018. Brands included are Bennington, Godfrey and Hurricane. The company has over 600 dealers which helps them generate demand.

Revenue increased from $155.1 million in Q3 2020 to $183.8 million in Q3 2021, approximately by 18.5% yearly due to an increase in demand and higher prices. But there has been a decrease in revenue from $197.6 million in Q2 2021 to $183.8 million in Q3 2021, approximately by 7.085% quarterly, due to higher input prices, which was partially offset by higher prices. It contributes 9% to total revenue in Q3 2021.

Motorcycles

The company manufactures and designs accessories and replacement parts for motorcycles such as handlebars, backrests, windshields, helmets, jackets, etc. The company manufactures Indian Motorcycles and Slingshots, which are sold via dealers, distributors, and online.

Revenue increased from $166.9 million in Q3 2020 to $194.4 million in Q3 2021, growing by 16.47% yearly, due to strong retail sales and higher PG&A (Parts, Garments, and Accessories) sales. Revenue declined from $211.7 million in Q2 2021 to $194.4 million in Q3 2021, falling by 8.17% quarterly. It contributes 10% to the total revenue in Q3 2021.

ORV/Snowmobiles

The company manufactures snowmobiles since 1954 and has a full line of snowmobiles consisting of 80 models. It also manufactures accessories and replacement parts such as helmets, goggles, jackets, boots, pants, hats, etc. ORV refers to Off-Road Vehicles which are designed for all-terrain such as dunes, mud, etc. The vehicle can be a single passenger or multi-passenger and can be used in sports such as fishing, hunting, dune riding, and on construction sites and agricultural fields.

Revenue decreased from $1288.8 million in Q3 2020 to $1203.3 million in Q3 2021, falling by 6.63% yearly. Revenue also declined by 8.445% quarterly, as compared to $1314.3 million in Q2 2021. This decrease was driven by plant inefficiencies in the supply chain. This segment is the major contributor of the company’s revenue in Q3 2021, contributing 62%.

About the Company

Polaris Inc is an American designer and manufacturer of motorcycles, snowmobiles, electric vehicles, and vehicles that can be used in all-terrain conditions such as mud, dunes, and trails. It was founded in 1954 and is headquartered in Medina, Minnesota. The company is a publicly-traded company and is a part of S&P 400. The products are sold via 2300 independent dealers in North America and 90 distributors outside North America in 120 countries. The company’s products are sold via distributors, online, and retail stores in the US, Western Europe, Canada, Australia, and Mexico.

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