good morning Scott Thanks, everyone. and
a price adjusted up driven the Our continuing off-road versus throughout have and a during and vehicles both motorcycles, we GAAP trend X% higher Average off-road were the mix was of the basis prior quarter in fourth seen sales sales by and vehicles motorcycles. driven products year of XXXX. selling quarter on by X% up
per Fourth an increased and headwind manufacturing approximately tariff quarter Adjusted and was by earnings $X.XX, warranty quarter. per earnings with lower and was promotions offset share efficiency per share included mix, flat The volume with last share tax foreign $X.XX. and year's fourth on costs, a exchange basis GAAP along quarter was increased fourth incremental rate. which XXXX of $X.XX
a on which the earnings on line $X.XX, XXXX, sales was were expectations. GAAP adjusted All Full year basis XX% basis. Adjusted grew segments and adjusted full per GAAP versus earnings the GAAP the our per on was for was year with share For a prior year. $X.XX. and share a in year basis up
The of combination share rate included tax investment exchange, increased operational impact full and as count. which foreign a strategic and year continued volume, of a as by in EPS well somewhat improvements, tariff was lower offset negative initiatives, lower
mix offset and by section profit for gross quarter for margin favorable expense. Gross supplemental in performance was the more exchange a by leverage, points on the somewhat product driven margins provided on this detail fourth tariffs, increased and warranty presentation. basis GAAP adjusted XX and We’ve operating higher of basis which profit foreign XXXX
which ORV/Snowmobiles segment sales were sales, ORV X% mix driven by up wholegood were PG&A. unit as XX%. a in increased performance, Turning by side-by-side heavier sales, driven ORV up to selling segment sales well sales wholegood our prices QX and of average drove as
segment driven year, X% ORV/Snowmobile were For all full the categories. sales up by
of in category a the increased introduction and an sales driven by sales, partially by on fourth sales new in introduction. basis GAAP basis Motorcycle Challenger. on and XX% and in quarter. primarily bikes, increased the basis a adjusted the Slingshots the sales FTR motorcycle driven model Challenger on of lower Full-year Increased the the heavy-weight Motorcycle India introduction GAAP X% XX% the anticipation were of by offset adjusted
decreased were fourth and X% our commercial, sales Global government the drivers. key business quarter. the Lower in on adjacent market sales defense
sales year, market adjacent X%. increased For Global the full
our in driven aftermarket Aftermarket fourth QX. sales quarter increasing X% X% up sales sales. by aftermarket TAP X% XX% grew performance primarily brands were other brands the in and was were last during with related and snow sales brands the aftermarket aftermarket other Full up over strong year both TAP in other were our by year. sales The quarter. up sales our
protect sales were down to the poor completed Boat X% XXXX. in down quarter sales Full mid-year acquisition given sales were we as over we Boat up slightly. for segment XXX% given sought Organically, were dealer inventory the year levels XXXX. Our conditions weather
International our and segments. PG&A sales within are embedded
offset mostly the X% down were for XX%. and sales Declines a basis. constant EMEA year up by Our X% currency in X% quarter, Asia-Pacific were growth and were Latin were up constant fourth and basis. XXXX versus currency Full up up international sales a on international in on America X%
X% accessory the X% and the garments for during sales Parts, Our quarter increased full and year.
me on let for gears XXXX. Now, switch to our move guidance and
sales in the last Our is overall expected low-single to up a to XXXX the guidance includes follows. as motorcycle vehicle expected side-by-sides range particularly for range the XXXX. year in percent growth powersports X% digit at to continuing market of the XXXX be grow assumptions. versus market sales the decline. market Total are off-road The growing, similar full-year with The and rate the is to to following company X%
not continue digits. we to Lastly, will not January XXXX, pontoon selling a the in price high in be grow as repeat as low-single average XXXX to market given X.X% took in expected increase of XXXX. We will which the prices although is positive, anticipate
took in that more we razors month will fact, In reductions pricing you our models. to line price this a on recall of comparable be few with on competitive earlier
expected we X% promotional for Remember, of in to price $X.XX, this XXXX pricing share the and offset be adjustment MSRP compared an $X.XX, the anticipate range full is levels. Adjusted is to the XX%. spend increase adjusted to earnings to an to per of year lower $X.XX lower of XXXX EPS
points to be costs. earnings improvements per ORV, XXXX in due guidance were following. A and ongoing our expenses. driven assumes portion to reported by marketing We profit up contra the our XX of basis reported are adjusted sales repurpose operational expense, will is in P&L, lower some points basis selling to promotional plan that as and XX the down the anticipate promotional the dollars gross and share margins operating of which which improvement our Moving
issue, XXXX we ongoing XXXX. well our around While remain tariff in efforts, an strides slightly costs Tariff made success exemptions. as is to great as be costs have anticipated down mitigation from in
well List China remains remains change tariffs. XA at List following all $XX $XX items, tariffs of to exemptions just million, is anticipated to XXX which the contemplated for XX%, approximately we've retaliatory Our as million. paid which to-date, in totals equal related and guidance our guidance X recovery exempted as assumes included past the tariff the at received the of we’ve these X.X%. No impact tariff over
slightly operating expected the marketing a basis XX points basis XXXX, improve to which earlier. as I are selling Adjusted points to referred percent and expenses sales in increase to of includes in XX down expense
essentially continue to XXXX expense to R&D to efficiency we Our is flat more versus effectively us as programs programs. enable execute execute
income expected year. range, to from dealer Venture. Income be the which in penetration acceptable financial Retail improve, expected be to last from are financing the availability at services to levels to flat remains turns the Joint Acceptance anticipated is with mid-XX% is rate about Polaris with inventory lower expected while
to flow of The term. is continue is decline stock XX% a the in in to for minimal X% X% be the be time. this levels rate Interest up debt tax will approximately decline buybacks reduce range at remains focus with contemplated our excess our to as expected on expense the for year. to low-teens expected to full is XXXX. count using percentage near cash expense income priority to Share expected year the Interest
Euro Europe. assuming $X.XX. in headwind dollar Lastly, incremental the negatively XXXX at profit, million the UDS is at by be CAD average due that expected the plan impact profit, We XXXX a about smaller impacted past the is while pre-tax $X.XX than USD to and to significantly currency pretax years. largely currency to anticipate and X in Canadian We will
of expected it to first compared the basis given approximately to flat be higher QX sales anticipate relates margin. high and to of sales XXX which in XXX XXXX carry and lower motorcycle gross side-by-side As lower specifically QX points are down mix to shift quarter we points profit XXXX, be about the to margins gross sales a margin product basis
be will The we Additionally, results quarter at. slightly earnings to per cost the QX all which operating results moving be is XXXX, QX essentially is expenses share]. half first XXXX pieces per that of more expected first at XXXX quarter level EPS share our similar will of of our run [$X.XX rate than of levels exited these XXXX
single anticipated double-digit expected our digits Now let ORV/Snowmobile to single low up ORV the me digits will sales segments. the sales bit detail be guidance products Improvement digits’ retail little driven range Snow new up more execution. by sales mid-single low new up be a percent provide be improved for percent. up driven on in and our are Motorcycle to percent low and percent products. by sales in are with
up are improved in be mid-single expected sales be digits adjacent TAP. high-single market to up market to expected all are with lines. product expected Global expected from growth segment sales percent with percent low After digits to growth
our embedded are sales year. segment within Boat to are the last Our in to which increase percent in sales, high about digit’s up are expected range. segments single flat PG&A be to expected
to margin XXXX. cash we gross presentation see margins expect basis. in segments basis, additional profit XXX up segment anticipate XXXX flow XXXX working finished at levels details. driven the Please We XXXX be reporting comparable over operating by capital. similar cash improve on a flow Operating gross for a at supplemental will the all million, On improved XX% primarily section
levels capital chain Our XXX are program. XXXX support which Capital tooling deployment unchanged. approximately million, supply at framework the required expected transformation to be expenditures similar to remains to includes at
of XX% ratio we this in and from Our to expect ratio is debt-to-total down XX% XXXX. as lower XXXX’s capital of ratio anticipated drive
increasing more size dividend XXXX termed club track referred which proud initially with records, associated applied an companies various very year aristocrat. with companies is dividend increasing consistently but be such terminology long XXX recently become dividend S&P will the of The been shareholders, of a board’s our to as a to has to to universally exclusive approval will history long be to with. XXth Subject dividends,
repurchases reduction. on were focus debt share our XXXX in given Our minimal
given debt to we desire We shares current our the anticipate under share board the approximately X.X million reduce in authorization, repurchases do XXXX have significant remaining level. not but
With that, thoughts. to back it I’ll some Scott for turn over final
