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Big Cat discounts on 2020's posted today.

HMTurbo

Extreme
Joined
Dec 5, 2017
Messages
100
Age
53
Location
Midwest
Country
USA
Snowmobile
2018 LTX-Le
$2000 and in some cases almost $3000 off MSRP on 600's on up. Damn they are putting some pressure on the industry. Bravo.
 


Just go to the Artic Cat website and browse their 2020 snowmobile lineup and you will see those prices being reflected:
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Textron appears to be getting close to making a decision on selling the snowmobile segment according to recent filings. This is probably a last ditch effort to turn it around.
 
Textron appears to be getting close to making a decision on selling the snowmobile segment according to recent filings. This is probably a last ditch effort to turn it around.

Can you share some information or a link on recent filings? I seen the report on a VP selling some stock. I wouldn't read too much into an executive selling $250K in stock. They have to plan those things well in advance as to not touch on insider trading.

Might just be they want a new business model of absolute minimal carryover.
 
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Can you share some information or a link on recent filings?

Might just be they want a new business model of absolute minimal carryover.

I posted the statement on other threads. I quoted it from a post on Arctic Insider, but have not located the original filing location yet. However, It is definitely a corporate statement from a filing.
 
I posted the statement on other threads. I quoted it from a post on Arctic Insider, but have not located the original filing location yet. However, It is definitely a corporate statement from a filing.

Long time lurker here but haven't posted before. That quote from the filing was doctored. The last sentence about considering selling the snow business was added. Makes sense - making a statement like that would tank the business.

Edit: here's the info from their filing:

On December 4, 2018, our Board of Directors approved a plan to restructure the Textron Specialized Vehicles businesses within our Industrial segment. We expect to incur pre-tax charges in the range of $60 million to $85 million under this plan, which will be recorded in the fourth quarter of 2018.


Textron Specialized Vehicles has undergone significant changes since the acquisition of Arctic Cat as we have expanded the product portfolio and integrated manufacturing operations and retail distribution. As disclosed in our Form 10-Q filed for the third quarter of 2018, the operating results for these businesses were significantly below our expectations as dealer sell-through lagged despite the introduction of new products into our dealer network. Management conducted a strategic review of the Textron Specialized Vehicles businesses, which included an assessment of the acquired dealer network and go-to-market strategy for the Textron Off Road and Arctic Cat brands, as well as cost reduction initiatives throughout the Textron Specialized Vehicles businesses. The restructuring plan will result in the impairment of intangible assets, primarily related to product rationalization, the elimination of approximately 400 positions, representing approximately 10% of Textron Specialized Vehicles’ workforce, and closure of several factory-direct turf-care branch locations and a manufacturing facility. The restructuring actions under this plan are expected to result in improved operating results for these businesses.


Severance and related costs for this plan are estimated to be in the range of $10 million to $15 million. Contract termination and other facility closure charges are estimated to be in the range of $5 million to $15 million. Impairment charges are estimated to be in the range of $45 million to $55 million and largely relate to acquired intangible assets. Expected cash outlays in connection with this plan are estimated to be in the range of $15 million to $30 million, with up to $10 million in the fourth quarter of 2018 and the remainder in 2019. We anticipate that this plan will be substantially completed by the end of 2018.
 
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I would estimate some of Cat's UTV/ATV sales come from sled faithful. IMHO selling the sled business would be suicide for those markets.
 
$2000 and in some cases almost $3000 off MSRP on 600's on up. Damn they are putting some pressure on the industry. Bravo.
No that would be a Riot :rofl:
 
Long time lurker here but haven't posted before. That quote from the filing was doctored. The last sentence about considering selling the snow business was added. Makes sense - making a statement like that would tank the business.

Edit: here's the info from their filing:

On December 4, 2018, our Board of Directors approved a plan to restructure the Textron Specialized Vehicles businesses within our Industrial segment. We expect to incur pre-tax charges in the range of $60 million to $85 million under this plan, which will be recorded in the fourth quarter of 2018.


Textron Specialized Vehicles has undergone significant changes since the acquisition of Arctic Cat as we have expanded the product portfolio and integrated manufacturing operations and retail distribution. As disclosed in our Form 10-Q filed for the third quarter of 2018, the operating results for these businesses were significantly below our expectations as dealer sell-through lagged despite the introduction of new products into our dealer network. Management conducted a strategic review of the Textron Specialized Vehicles businesses, which included an assessment of the acquired dealer network and go-to-market strategy for the Textron Off Road and Arctic Cat brands, as well as cost reduction initiatives throughout the Textron Specialized Vehicles businesses. The restructuring plan will result in the impairment of intangible assets, primarily related to product rationalization, the elimination of approximately 400 positions, representing approximately 10% of Textron Specialized Vehicles’ workforce, and closure of several factory-direct turf-care branch locations and a manufacturing facility. The restructuring actions under this plan are expected to result in improved operating results for these businesses.


Severance and related costs for this plan are estimated to be in the range of $10 million to $15 million. Contract termination and other facility closure charges are estimated to be in the range of $5 million to $15 million. Impairment charges are estimated to be in the range of $45 million to $55 million and largely relate to acquired intangible assets. Expected cash outlays in connection with this plan are estimated to be in the range of $15 million to $30 million, with up to $10 million in the fourth quarter of 2018 and the remainder in 2019. We anticipate that this plan will be substantially completed by the end of 2018.

Thanks for the info about the source. I do know there is some turmoil in TRF these days, but I would assume Textron will exhaust all options before they divest certain operations.
 


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