Polaris

Ben Duke succeeds Jake Vogel, who will stay on board as a strategic advisor.

The company said sales in its marine segment increased, but profit margins narrowed because of supply-chain issues.

Though boat sales were up 18 percent, demand in the company’s other segments was hindered by a lack of product availability, driven by supply-chain issues.

The surge in sales continues for Polaris in Q2, with its boats segment posting an increase of nearly 50 percent to $198 million.

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

A 39 percent surge in sales and increased market share in all segments has the powersports giant well positioned.

The powersports manufacturer had solid gains in every segment, with boat sales up 20 percent.

Sales in its boat segment were off 28 percent, and gross profits in the category were down 54 percent.

The builder “redesigned our line and developed all new molds for the latest in modern, elegant and ergonomic deckboats.”

The powersports company bought the troubled brands in January 2019.

The company said a “negative product mix and dealer inventory reductions” lowered sales by 7 percent.

Sales in the boat segment dropped 11 percent.

Declines in outboard sales were mostly offset by revenues from boat-company acquisitions.

Polaris aims to unite brands with a new tagline and logo.

CEO Wine: “Operational and dealer fundamentals are in good shape.”

Dealers are happy about being with Polaris, analyst reports.

The company said its boat brands “fared well” during show season.