Polaris, Inc. (NYSE:PII) Q4 2022 Earnings Conference Call January 31, 2023 11:00 AM ET

Company Participants

J.C. Weigelt - VP, IR

Michael Speetzen - CEO & Director

Robert Mack - CFO, EVP, Finance & Corporate Development

Conference Call Participants

Craig Kennison - Robert W. Baird & Co.

Frederick Wightman - Wolfe Research

Joseph Altobello - Raymond James & Associates

Xian Siew - BNP Paribas Exane

Robin Farley - UBS

Jaime Katz - Morningstar

David MacGregor - Longbow Research

Gerrick Johnson - BMO Capital Markets

James Hardiman - Citigroup

Scott Stember - MKM Partners

Operator

Good day, and welcome to the Polaris Fourth Quarter and Fiscal Year 2022 Earnings Call and Webcast. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to J.C. Weigelt, Vice President, Investor Relations. Please go ahead.

J.C. Weigelt

Thank you, Betsy, and good morning or afternoon, everyone. I'm J.C. Weigelt, Vice President of Investor Relations at Polaris. Thank you for joining us for our 2022 fourth quarter and full year earnings call.

We will reference a slide presentation today, which is accessible on our website at ir.polaris.com. Joining me on the call today are Mike Speetzen, our Chief Executive Officer; and Bob Mack, our Chief Financial Officer. Both have prepared remarks summarizing the quarter and year as well as our initial expectations for 2023. Then we'll take your questions.

During the call, we will be discussing various topics, which should be considered forward-looking for the purpose of the Securities Litigation Reform Act of 1995. Actual results could differ materially from those projections in the forward-looking statements.

You can refer to our 2021 10-K for additional details regarding risks and uncertainties. All references to fourth quarter and full year 2022 actual results and 2023 guidance are for our continuing operations and are reported on an adjusted non-GAAP basis, unless otherwise noted. Please refer to our Reg G reconciliation schedules at the end of the presentation for the GAAP to non-GAAP adjustments.

Now I will turn the call over to Mike Speetzen. Go ahead, Mike.

Michael Speetzen

Thanks, J.C. Good morning, everyone, and thank you for joining us today. We delivered another record year for both sales and earnings from continuing operations despite a difficult supply chain environment and lower retail versus our original expectations.

We also improved our cash position in 2022 and executed over $500 million of share repurchases. I want to thank the entire Polaris team through your relentless effort in a challenging environment, we delivered record results once again proving this is the best team in powersports.