Polaris Inc’s Revenue by Segment (2016-2023)

This statistic highlights Polaris Inc’s Revenue by Segment from Q1 2016 onwards, split between Marine, Off-Road and On-road segments.

Polaris Inc’s Revenue by Segment

The table shows Polaris Inc’s Revenue by Segment for Q3 2022, Q4 2022 and Q1 2023.

All the figures are in million except the percentages.
There has been a slight decline in revenue from $1954.6 million in Q3 2020 to $1954.5 million in Q3 2021 approximately by 0.005%. The revenue also declined by approximately 7.7% compared to $2117.2 million in Q2 2021.

1. Aftermarket : Aftermarket parts, garments, and accessories sold through dealer, retailers, aftermarket e-commerce. It includes Transamerican Auto Parts (TAP) that manufactures, distributes and installs off-road Jeep and truck accessories and uses retail stores call center, and e-commerce platform to offer its services. Brands included under TAP are:

• 4WP
• 4 Wheel Parts
• Pro Comp
• Smittybilt
• Marine
• Off-road
• On-road

Other brands under Aftermarket incudes:

• Kolpin
• Pro Armor
• Klim
• 509
• Trail Tech

There has been an increase in revenue from $155.1 million in Q3 2020 to $183.6 million approximately by 18.37% on a Year-on-Year basis. This increase was driven by both growth in TAP and other brands under Aftermarket segment.
The revenue declined from $239.5 million in Q2 2020 to $226.7 million in Q3 2021 approximately by 5.34% due to decline in sales and increase in the input cost.

2. Global Adjacent Markets : Global Adjacent market manufactures and designs vehicles that are used in commercial activities and passenger vehicles. This includes manufacture of light-duty hauling, defense vehicles, people mover, etc. Brands included under Global Adjacent Markets are:

• GEM
• Goupil
• Aixam
• ProXD

There has been an increase in revenue from $106.6 million in Q3 2020 to $146.5 million in Q3 2021 approximately by 37.43% due to 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% due to increase in input cost.

3. Boats: The company completed the acquisition of Boat Holdings, LLC, that manufactures boat in 2018. Brands included are:

• Bennington
• Godfrey
• Hurricane

The company has over 600 dealers which helps them generating demand.
The revenue increased from $155.1 million in Q3 2020 to $183.8 million in Q3 2020 approximately by 18.5% due to 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% due to higher input prices which was partially offset by higher prices.

4. Motorcycles : The company manufactures and designs accessories and replacement parts for motorcycles such as: handlebars, backrests, windshields, helmets, jacket, etc. The company manufactures Indian Motorcycle and Slingshot which is sold via dealers, distributors, and online.
The revenue increased from $166.9 million in Q3 2020 to $194.4 million in Q3 2021 approximately by 16.47% due to strong retail sales and higher PG&A (Parts, Garments, and Accessories) sales. The revenue declined from $211.7 million in Q2 2021 to $194.4 million in Q3 2021 approximately by 8.17%.

5. ORV/Snowmobiles : The company manufactures snowmobiles since 1954 and has full line of snowmobile consisting of 80 models. It also manufactures accessories and replacement parts such as helmets, goggles, jackets, boots, pants, hats, etc. The company sells Snowmobile through 600 dealers in US and Canada and 300 dealers international dealers.
The revenue decreased from $1288.8 million in Q3 2020 to $1203.3 million in Q3 2021 approximately by 6.63%. The revenue also declined by 8.445% as compared to $1314.3 million in Q2 2021. This decrease was driven by plant inefficiencies in supply-chain.

About the Company
Polaris Inc., is an American designer and manufacturer of motorcycles, snowmobiles, electric vehicles, and vehicles which could be used in all terrain such as mud, dunes, trails. It was founded in 1954 and is headquartered in Medina, Minnesota. The company is 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 product are sold via distributors, online, and retail stores in the US, Western Europe, Canada, Australia, and Mexico.

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