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POLARIS DOWN 20 %
Polaris released its full-year 2024 financials on Jan . 28 , reporting a year-over-year sales drop of 20 %. The Minnesota-based maker of ATVs , UTVs , snowmobiles , motorcycles and boats attributed the sales decline to lower inventory due to planned reductions in shipments “ as we actively managed dealer inventory in a subdued retail environment .”
CEO Mike Speetzen added , “ Polaris has weathered storms before , and we believe we are positioning our organization to emerge from this downcycle even stronger . While I anticipate challenging headwinds will carry forward into 2025 , we will remain focused on being a strong partner to our dealers , providing our riders with high quality products and working to deliver longterm value to shareholders .” 2025 Outlook : Polaris said it expects 2025 sales to be down 1 to 4 % versus 2024 . It expects margin headwinds from negative mix , planned reductions in production leading to negative absorption in addition to the restoration of its employee profit-sharing program . Polaris expects to offset some of that by progress with its lean and efficient operations strategy .
CAT FALLS 3 % FOR THE YEAR
Caterpillar reported its full-year sales and revenues in 2024 were $ 64.8 billion , down 3 % compared with $ 67.1 billion in 2023 . The decrease reflected lower sales volume of $ 3.5 billion , partially offset by favorable price realization of $ 1.2 billion . Operating profit margin was 20.2 % in 2024 , compared with 19.3 % in 2023 .
“ I ’ m proud of our global team ’ s strong performance in 2024 as they delivered record adjusted profit per share and strong ME & T free cash flow ,” said Caterpillar Chairman and CEO Jim Umpleby . “ As we kick off our centennial year , we remain committed to serving our customers , executing our strategy and continuing to invest for long-term profitable growth .”
Caterpillar anticipates a slight decrease in sales and revenues for 2025 , with lower sales expected in Construction Industries and Resource Industries . Price realization is expected to be unfavorable in 2025 , contributing to a decrease in sales .
HUSQVARNA SALES DOWN 9 %
For the calendar year 2024 , Husqvarna ’ s net sales decreased by 9 % to SEK 48,352m (~$ 4,449m ). Planned exits of low-margin petrol-powered business impacted with -2 %. Sales declined organically by 7 %.
In recent years , the Husqvarna Forest & Garden Division has taken decisive actions to improve results in North America . The company said it has discontinued low-margin business and consolidated the production structure . The company is now entering the next step where it divests from a manufacturing facility in Orangeburg , S . C ., to Flex Ltd . The company ’ s new long-term supplier agreement with Flex , it said , will ensure continued production of the division ’ s wheeled products and assembly of handheld products in the U . S .
Related cost savings are expected to amount to SEK 350m (~ $ 32M ) by 2030 .
During the year , the share of Husqvarna products that are electrified reached 44 % of our sales of motorized products . Connected devices grew to 4.9 million . For robotic mowers , net sales amounted to SEK 7.2bn (~ $ 700M ). Husqvarna sales grew in the professional robotics market . However , sales in the residential segment declined due to increased competition in the lowvalue segments . For the 2025 season , it has significantly expanded its range of robotic mowers with new boundary wire-free robotic mowers .
STANLEY BLACK & DECKER REPORTS DROP
On Feb . 5 , Stanley Black & Decker ( SWK ) announced fourth quarter and full year 2024 financial results , reporting 2024 revenues of $ 15.4 billion , down 3 % compared to 2023 . Its Q4 revenues of $ 3.7 billion were flat versus the prior year .
The company ’ s Tools & Outdoor segment showed net sales up 2 % versus Q4 2023 , driven by volume increases , which it said was partially offset by price ( -1 %) and currency ( -1 %). Organic revenue was up 3 %, with continued growth in Dewalt and a solid holiday promotional season partially offset by a moderately weaker consumer and DIY backdrop . The Tools & Outdoor segment includes outdoor equipment brands such as Dewalt , Craftsman , Stanley , Cub Cadet , Hustler , and others in the OPE and DIYer tool space .
Regional organic revenues were : North America (+ 2 %), Europe (+ 4 %) Rest of world (+ 8 %).
“ Turning to 2025 , we are taking actions intended to deliver share gain and to improve the cost structure behind our ongoing strategic initiatives
6 OPE + March 2025 www . OPE-Plus . com