Polaris Inc. (NYSE:PII) Q1 2023 Earnings Call Transcript

Brandon Rolle: I just had a quick question on market share. Would you be able to comment on your North American ORV market share exiting 1Q, where you expect it to be at the end of ’23? And maybe the market share growth opportunity in 2024 and beyond, especially given some of your competitors are increasing capacity and maybe improving their inventory availability in the coming years?

Mike Speetzen: Yes. I guess what I would — obviously, I don’t want get into all the specifics, but they’re increasing capacity, so are we, we have been. I don’t see that as a factor in this. What I will say is that the momentum for our Off-Road business has been quite good for the past couple of quarters. And a lot of that has been driven by availability. And now we’re going to add the second punch to that, which is the new products. And the receptivity to the new RZR XP, I would encourage you to look at the reviews. They’ve been incredibly strong. Dealers loved it. I was — Bob and I were at the dealer meeting in Orlando when we launched that vehicle and had the opportunity to talk to dealers. And they were just ecstatic about the improvements in quality.

And we have more coming this year from an Off-Road standpoint. And as I mentioned, they’re what I would term category defining. So I think Polaris is back playing offense when it comes to product innovation, and you’re seeing the start of that, and I have a lot of confidence in where that can take us into the future.

Operator: This concludes our question-and-answer session, and the conference has also now concluded. Thank you for attending today’s presentation. You may now disconnect.