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TheStreet Open House

Polaris Industries' CEO Hosts Analyst And Investor Meeting (Transcript)

Stocks in this article: PII

I wanted to just take one slide just to kind of frame up, things have changed a lot at Polaris. We’ve been evolving. We like to use the word transforming. I think that’s our new favorite word as somebody said. But lots and lots of change over the last couple of years. And from my perspective and maybe what like you guys get is the power sports market is growing again and that’s kind of flipped on us. We had about five years in a row where the power sports market was declining and frankly over the last 12 months the aggregate market has been up pretty much each and every month. So I think we got a legitimate trend line going here even with a tough snow season where there was no snow. So that’s very encouraging.

We’ve grown about $1.5 billion so we’ve doubled the size of the company here over the last couple of years. And frankly with all that success capacity is no longer free that we’re clearly going to be making more investments and managing capacity as we go forward. It’s absolutely necessary. Scott mentioned that we’ve added 2,200 new people over the last couple of years. So half of our team is new and you guys know that we pride ourselves on being a very strong, powerful culture. We’re bringing a lot of new perspectives, new capabilities into the organization. And then we’re leaning on that culture to make sure we can indoctrinate people into the Polaris way as we go through that.

We’ve become way more global. Almost 1,300 new people are frankly international folks. A lot of those folks are in Monterrey, but we’ve got new subsidiaries really across the globe in places like Brazil, India and China. We’ve got a headquarters in Europe. And so we’re becoming a much more global organization than we were maybe through the downturn and our appetite remains quite high. We’re aggressive folks and we continue to see lots of opportunity and we’re using our kind of unprecedented levels of success to invest back in ourselves and our future.

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