Polaris Inc. (NYSE:PII) Q2 2022 Results Conference Call July 26, 2022 10:00 AM ET

Company Participants

J.C. Weigelt - VP, IR

Mike Speetzen - CEO

Bob Mack - CFO

Conference Call Participants

James Hardiman - Citi

Craig Kennison - Baird

Anna Glaessgen - Jefferies

Gerrick Johnson - BMO Capital Markets

Robin Farley - UBS

Joe Altobello - Raymond James

Joe Spak - RBC Capital Markets

Fred Wightman - Wolfe Research

John Healy - Northcoast Research

Xian Siew - BNP

Brandon Rolle - D.A. Davidson

Operator

Good day, and welcome to the Polaris Earnings Conference Call and Webcast. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to J.C. Weigelt, Vice President of Investor Relations. Please go ahead.

J.C. Weigelt

Thank you, Betsy, and good morning or afternoon, everyone. I am J.C. Weigelt, Vice President of Investor Relations at Polaris. Thank you for joining us for our 2022 second quarter 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 our expectations for 2022. Then, we’ll take some questions.

During the call, we will be discussing various topics, which should be considered forward-looking for the purposes of the Private 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 these risks and uncertainties.

All references to second quarter actual results and 2022 guidance are for 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.

Please note that with the completed divestiture of TAP on July 1st, historical results of the business are now reported as discontinued operations starting with the second quarter of 2022. Financial figures and guidance referenced today incorporate this change unless otherwise noted.

TAP was historically included in the Company’s aftermarket segment. However, because of the transaction, we eliminated the aftermarket segment and the resulting powersports aftermarket businesses were reclassified to the off-road and on-road segments. Please see the appendix in today’s earnings presentation for a historical reference of the reclassified segment data.