Thanks, Scott and good everyone. morning,
prior the primarily quarter by favorable pre-ordered basis Third were were Average by snowmobiles. sales X%, prices as on a X% up versus up year. increases well and as side-by-sides GAAP selling price driven primarily and adjusted mix driven
issued on by per was our per for operating promotional which somewhat combination mix offset but of earnings ongoing share earnings exceeded tariff a favorable quarter, was share $X.XX. down basis quarter was driven costs. guidance the GAAP a a mitigation, and higher by timing product of expenses, $X.XX, XX% previously Third Adjusted
as execution of the XXXX, FX to in versus the the and despite business our of tariff margin QX continues by an Importantly, underlying gross increase improve evidenced headwinds.
gross margins, adjusted tariffs and XX%. the excluding of FX over Our was impact
the interest, growth XX%. tariffs, of Excluding for almost up the was FX impact and quarter our EPS
to Canadian quarterly results against on driven the continued the our a by dollar strong dollar. primarily euro impact and Exchange the Foreign negative have
impact the negative with was However, in line our expectations.
have $X.XX For to the full expected the a to XXXX our impact pre-tax share, guidance. per year exchange or profit for negative from million previous is foreign year approximately $XX unchanged of
to the euro average Our assumptions $X.XX for CAD-USD. $X.XX remain USD the at rate and exchange for foreign
PG&A growth. SnowCheck sales, average From a increased quarter, primarily third up associated were with selling to by pre-ordered segment mix sales our segment XX% the product in reporting higher timing of XX% sales driven and due prices the Snowmobiles, side-by-side positive ORV/Snowmobile perspective,
ORV given side-by-side international wholegood growth. sales increased mix X% sales stronger and
the up as product price selling increases as by average X% Additionally were prices well positive driven mix.
lower to as than sales Importantly, we in inventory sales unit retail was volume continue protect America. North dealer slightly
We profitable the more in driving line, given continue as and models strategically margins. mix is target and focus on our ongoing more sales well to portfolio segments the models in pressures. profitable competitive the gross This positive at tariff as profit
up decreased tariffs were lower Motorcycle in the XXXX. of down quarter. by and Average quarter excluding XXXX margins the adjusted impact on X% for International by negative was mix. a sales GAAP the profit were shipments during PG&A flat Indian the third including exchange. XX% shipments Slingshots X% from X% FTR were Gross up an increased new and quarter the foreign sales Motorcycles selling FTR of price basis driven and of year-over-year basis on sales driven and X%
tariffs in American quarter. amount market during due share to profit losing be X% of a modest lower continue to and margins volumes, resulting North promotional, highly to Gross mix. declined the The Indian motorcycle
the ever at the new of market to we Although is gave well our sneak the our increasing peak moving our expected the as FTR XXXX motorcycle dealer with we going of launch summer new challenged, pending meeting, that a for of as forward season heavyweight are worldwide. preview Challenger, encouraged overall and our motorcycle awareness we’re market share selling opportunity which the remain out motorcycles
product were and product commercial, Gross by the up points XXX Global margins by adjacent market prices driven X% driven during driven all by mix. in improved up selling basis sales government primarily our profit Average were XX% businesses. categories. increases quarter defense
wholesale by up offset sales. lower were performance with to last sales driven TAP compared sales up by Aftermarket retail year X% strong X%
quarter. aftermarket during third Our the increased other brands X%
We are the see since grow encouraged sales our first QX TAP of time XXXX. to for business
making growing declined team still to it's While the tariffs and the get mix. the business to margins tough is back consistently. profit to Gross decisions early, due
third and sales in we the as adjusted segment market XX% to inventory. the protect shipments overall quarter decreased dealer growth Boats slowed
operations. were needed. we will despite product margins to and closely the launches volume our received, due where Year While improved Model adjust are profit market improved well monitoring ‘XX we Gross lower
a on currency. was XX% when XXXX. business. X% up unfavourable adjacent our International driven for the were growth remove reported basis impact strength XM sales by from increased the launch FTR largely and by international the Our defense markets both XX% up driven you motorcycles Global and of at XX%,
Parts, garments and sales quarter. accessory the XX% during increased
a continue our with response coupled This in service strong the apparel accessories, We offering to to factory performance drove choice. see QX. and parts industry-leading
to for approximately XX% and on I'll refined our Moving company specifics sales the growth now total guidance sales increase few segment minutes. cover guidance, the in expect a year. by we to
share to mitigating year by issued We results of the upper $X.XX issued raising range for tariff our guidance guidance our previously in end success diluted guidance previously our and are our $X.XX end adjusted the ongoing full $X.XX earnings and per holding share narrowing year-to-date of operating lower costs. range per of given by XXXX
slightly Although issued to and with tariff coupled added implementation. lower favorable the have List tariff guidance range, from helps volume end mitigation previously offset our lower XXX revenue efforts to mix guidance updated we XA our costs of
of tariff arguments fact headway XXX As the XX% an also implementation Scott the our the on to policy to but from strong believe impact support date immaterial I are XX% guidance X like to inventories noted, our moving production. our most are in and deferment QX Washington note on we that that will given would hand have making the List of
strong. remains business underlying Our
interest costs, is to XXXX tariff full earnings on impact the year-over-year currency the and costs, year for performance basis. a our XX% to negative higher Excluding operating XX% improve anticipated
as unchanged exception down current Moving remain with slide the on following: the our the ranges the P&L, previously guidance issued of shown
mix improved promotional down driven higher Have previous absolute expected lower profit adjusted a tariffs to negative by costs First, be are an currency. margins guidance be partially on to are productivity, to and and impact, basis tariff XX offset XX points slightly due versus our now basis to expected gross year-over-year. down and by
are and gross adjusted profit foreign issued expected XXX now to driven previously our by versus price basis Excluding productivity. margins mix, exchange, tariffs improved and XXX to and guidance up be points,
range unchanged to our entirely be to now XXXX, the previous sales, points, expenses Secondly, our of basis the when increase guidance. is range. expected a in previous calculated are are which narrowing about expected in the percent expectations But adjusted lower mid-teens as operating driven sales percentage of of end by guidance to XX up our from
Our operating investments Fernley, which business, are in July, associated new projects. up and addition in development and celebration anniversary meeting Nevada year-over-year the XXth the and cost summer expenses and research of to center the strategic opened with ongoing the distribution Boat held the the due multi-brand in this dealer
as the international now improved of sales as to me in Moving Rather be PG&A. now each segment. well expected high ORV/Snowmobiles range mix guidance, the as to walk-through than sales and expectations products in strength segment side-by-side sales by up has let are ongoing summarize. single-digits
than sales, sales given and respective markets. lower The segment ORV/Snowmobiles expectations is improvement, weak boat more remaining remain motorcycle unchanged. offset their The by
cash at by that's Operating capital of lower the up working through finished requirements. nine million flow months over $XXX year, last driven same XXXX, time the XX%
flow XX% the to to XX% for cash expectations up last unchanged compared year year. approximately Our at remain full
is debt-to-EBITDA requirements, Our total of And covenant remains of remainder times. cash sequentially ratio this approximately bank X.X excess leverage as use the XXXX. improved reduction below primary the to defined our while for flow debt bank well
XX above XX.X%, on ROIC norms. industry month trailing a was basis well
to I'll some over turn for back that, final With it Scott thoughts.
