" On Road segment sales ( primarily Indian Motorcycle and Slingshot ) were $ 293.3m for Q2 , down by -19 % compared to the $ 361.6m for the year-ago quarter .
<<< Continued from page 64 rallied a tad by the end of the week , to still end down though . Set that against a 12-month high in July 2023 of $ 137.17 . However , despite that , share performance , at a market cap of $ 4.06bn , Polaris remains only some $ 600m smaller in market valuation terms than Harley-Davidson ($ 4.66bn ). Mike Speetzen , CEO of Polaris Inc ., is quoted as saying : " The second quarter proved challenging as our industry continued to contend with elevated interest rates , inflation and an increasingly cautious dealer and consumer . " As we position our business to navigate this economic cycle , our team is focused on making progress against key priorities , including manufacturing efficiency improvements and our pipeline of industry-leading innovation . Reducing dealer inventory is a central priority , both through Drag Specialties Hires Doug Cyr
intentional retail driving efforts and adjusting our production forecasts to further cut back on dealer shipments . " Although it might take longer than originally anticipated , I am confident in our long-term strategy and the Polaris team ' s ability to emerge stronger and well-positioned to drive profitable growth , deliver value to shareholders and capitalize on our position as the powersports industry leader ." The company updated its 2024 sales outlook to be down 17 to 20 % versus its previous outlook ( -5 to -7 % versus 2023 ). The company now expects adjusted diluted EPS to be down 56 to 62 % versus 2023 , versus the prior outlook of down 10 to 15 %. Operating expenses were $ 330m in both the second quarter of 2024 and the second quarter of 2023 . Operating expenses , as a percentage of sales of 16.8 %, were up 194 basis points in the second quarter of 2024 compared to the second quarter of 2023 .
Drag Specialties has hired a new outside sales rep for the East Region team roster , covering the CT / MA / RI area . " Doug comes to us with several years of experience in parts and service on the dealer level . Doug raced motocross for six years , but has been riding Harleys since 2008 . He also attends local bike nights and is a supporter of B . A . A . C . ( Bikers Against Animal Cruelty ). In his free time , Doug enjoys riding his Road Glide and watching SX / MX ." www . dragspecialties . com
www . AMDmag . com AFTERMARKET MOTO DESIGN - SEPTEMBER 2024 7