Polaris closed the books on 2021 with a solid Q4 and record revenue. PG&A was up 24% for the year and sales increased a whopping 34%. Full year reported and adjusted sales increased 17% to $8,198 million. Full year 2021 reported net income was $7.88 per diluted share; adjusted net income was a record $9.13 per diluted share. This increase marks the 27th consecutive year Polaris increased its dividends.
“Marking a strong finish to the year, we delivered record sales and earnings in 2021, propelled by the Polaris team's dedication and tenacity as they capitalized on opportunities while navigating the macroeconomic-related headwinds. Innovation remained the cornerstone of our culture, supported by the introduction of several new category-defining vehicles this year,” CEO Mike Speetzen told the Wall Street types. He anticipates more of the same for the coming year.
“With interest in powersports continuing to grow and new customers increasingly entering our industry, we expect 2022 to be another record year for Polaris. Leveraging the Company’s strengths and scale as the global leader in powersports, our refreshed strategy and new strategic objectives will guide our path forward to create a greater competitive advantage, welcome new customers and grow the market, drive profitable growth, and deliver value for all our stakeholders,” concludes Speetzen.