<<< Continued from page 64 growth ." North America sales of $ 1,444m represented 83 % of total Company sales and decreased 22 % from $ 1,842m in 2023 . International sales of $ 292m represented 17 % of total Company sales and decreased 13 % versus the first quarter of 2023 . First quarter net income attributable to Polaris of $ 4m decreased 97 % and diluted earnings per share (" EPS ") of $ 0.07 decreased 96 % compared to the first quarter of 2023 . Adjusted net income attributable to Polaris for the quarter was $ 13m , down 89 %, and adjusted EPS was $ 0.23 , down 89 %, in each case as compared to the first quarter of 2023 . Gross profit margin decreased 250 basis points to 19.0 % for the first quarter , as compared to the first quarter of 2023 . Adjusted gross profit margin of 19.0 % decreased 248 basis points primarily driven by higher promotional activity and higher warranty expense partially offset by favorable operational costs , as compared to the first quarter of 2023 . Operating expenses were $ 313m in the first quarter of 2024 compared to $ 325m in the first quarter of 2023 due to lower selling and marketing expenses . Operating expenses , as a percentage of sales , of 18.0 % were up 314 basis points in the first quarter of 2024 compared to the first quarter of 2023 . Off Road segment results were primarily driven by lower volume in snow and off-road vehicles , partially
" Polaris reported an overall 20 % year-on-year decline in total all-segments sales revenue ($ 1,736m ) for Q1 ."
offset by increased PG & A PG & A sales ( increased by five percent .) Segment gross profit margin performance was driven by lower net pricing driven by higher promotional activity and higher warranty expense partially offset by operational improvements . Polaris North America ORV unit retail sales were up three percent . Estimated North America industry ORV unit retail sales were up low-single digits percent . Marine segment results were primarily driven by lower volumes . Segment gross profit margin performance was impacted by a decrease in sales volumes and lower net pricing .
Mike Speetzen , Chief Executive Officer of Polaris Inc ., is quoted as stating that " our sales results for the first quarter were in line with our expectations ."