分组1 - Harley-Davidson reported a quarterly loss of $0.93 per share, missing the Zacks Consensus Estimate of a loss of $0.68, compared to earnings of $0.18 per share a year ago, representing an earnings surprise of -36.76% [1] - The company posted revenues of $430.89 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 10.57%, and down from $807.01 million year-over-year [2] - Harley-Davidson shares have declined approximately 11% since the beginning of the year, while the S&P 500 has gained 2.7% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.68 on revenues of $1.46 billion, and for the current fiscal year, it is $3.96 on revenues of $4.26 billion [7] - The Zacks Industry Rank for Automotive - Domestic is currently in the bottom 26% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Core Insights - Harley-Davidson reported a significant decline in financial performance for the fourth quarter and full year 2024, with a consolidated revenue drop of 35% in Q4 and 11% for the full year compared to 2023 [4][5][6] - The company faced challenges due to high-interest rates affecting consumer confidence and a cyclical downturn in discretionary products, but it aims to leverage its Hardwire strategy to strengthen its market position [2][4] Financial Performance - Fourth Quarter 2024 Results: - Revenue: $688 million, down 35% from $1,053 million in Q4 2023 [4] - Operating Loss: $193 million compared to a loss of $21 million in the prior year [5] - Net Income Attributable to HDI: Loss of $117 million versus a profit of $26 million in Q4 2023 [4] - Diluted EPS: Loss of $0.93 compared to earnings of $0.18 in Q4 2023 [4] - Full Year 2024 Results: - Revenue: $5.187 billion, down 11% from $5.836 billion in 2023 [4] - Operating Income: $417 million, down 47% from $779 million in 2023 [4] - Net Income Attributable to HDI: $455 million, down 36% from $707 million in 2023 [4] - Diluted EPS: $3.44, down 29% from $4.87 in 2023 [4] Segment Performance - Harley-Davidson Motor Company (HDMC): - Q4 Revenue: $420 million, down 47% from $792 million in Q4 2023 [8] - Global Motorcycle Shipments: 14,010 units, down 53% from 29,544 units in Q4 2023 [8] - Full Year Revenue: $4.122 billion, down 15% from $4.845 billion in 2023 [8] - Operating Income: $278 million, down 58% from $661 million in 2023 [8] - Harley-Davidson Financial Services (HDFS): - Q4 Revenue: $257 million, up 4% from $246 million in Q4 2023 [14] - Full Year Revenue: $1.039 billion, up 9% from $954 million in 2023 [15] - Operating Income: $248 million, up 6% from $235 million in 2023 [15] - LiveWire: - Q4 Revenue: $10 million, down 32% from $15 million in Q4 2023 [16] - Full Year Revenue: $26 million, down 31% from $38 million in 2023 [17] - Electric Motorcycle Shipments: 612 units, down 7% from 660 units in 2023 [17] Retail Sales - Global retail sales of new motorcycles decreased by 15% in Q4 2024 compared to Q4 2023, with North America down 13% and EMEA down 7% [12][13] - For the full year 2024, global retail sales were down 7%, with North America declining by 4% [13] Cash Flow and Investments - The company generated $1.1 billion in cash from operating activities for the full year 2024 [19] - Capital investments for 2025 are projected to be between $225 million and $250 million [6] Market Position - Harley-Davidson's market share in the U.S. Touring segment reached 74.5% in 2024, driven by the launch of new models [2] - The company aims to capitalize on any potential recovery in consumer spending as it navigates current market challenges [2]

2025 Financial Outlook For the full year 2025, the Company expects: FOR IMMEDIATE RELEASE Harley-Davidson Delivers Fourth Quarter and Full Year Financial Results and 2025 Outlook MILWAUKEE (February 5, 2025) – Harley-Davidson, Inc. ("Harley-Davidson," "HDI," or the "Company") (NYSE: HOG) today reported fourth quarter and full year 2024 results and provided 2025 Outlook. "In 2024, we saw our performance being significantly impacted by the continued cyclical headwinds for discretionary products, including the ...

Core Insights - Harley-Davidson is well-positioned to maintain its earnings-beat streak in the upcoming report, with a history of exceeding earnings estimates, particularly in the last two quarters, averaging a surprise of 12.48% [1][3] Earnings Performance - In the last reported quarter, Harley-Davidson achieved earnings of $0.91 per share, surpassing the Zacks Consensus Estimate of $0.82 per share, resulting in a surprise of 10.98% [2] - In the previous quarter, the company was expected to report earnings of $1.43 per share but delivered $1.63 per share, yielding a surprise of 13.99% [2] Earnings Estimates and Predictions - Estimates for Harley-Davidson have been trending higher, influenced by its history of earnings surprises, and the stock currently has a positive Zacks Earnings ESP of +5.43%, indicating bullish sentiment among analysts regarding its near-term earnings potential [3][6] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a strong likelihood of another earnings beat, with the next earnings report expected on February 5, 2025 [6] Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise, meaning that out of 10 such stocks, approximately seven could beat consensus estimates [4]

Core Insights - Harley-Davidson has unveiled its all-new and refreshed motorcycle lineup for 2025, featuring models such as the Street Glide® Ultra and Pan America® 1250 ST, along with a collection of six updated Cruiser models and four limited-edition Custom Vehicle Operation™ (CVO™) models [1][2][3] Group 1: New Models Overview - The 2025 lineup includes the Street Glide® Ultra, designed for long-distance touring, and the Pan America® 1250 ST, which is an adventure sport motorcycle suitable for daily rides and weekend touring [1][5] - The Cruiser collection features six models, all equipped with the new Milwaukee-Eight® 117 powertrain and advanced technology, utilizing the Softail® chassis with hidden mono shock rear suspension [3] - The Sportster® S model has been updated with revised suspension for improved comfort, offering a 60% increase in rear wheel travel without affecting seat height [6] Group 2: CVO Models - The 2025 CVO™ lineup includes four super-premium, limited production motorcycle models, emphasizing power and prestige with new design details [7] - The CVO™ Street Glide® and CVO™ Road Glide® models enhance design, technology, and performance for discerning riders [7] - The CVO™ Pan America® model is equipped with rugged accessories for adventure touring, showcasing Harley-Davidson's commitment to adventure and freedom [8]

Group 1 - Harley-Davidson, Inc. will release its fourth quarter and year-end 2024 financial results on February 5, 2025, before market hours [1] - An audio webcast is scheduled from 8-9 a.m. CST, where senior management will discuss financial results, business developments, and updates to the company's outlook [1] - A slide presentation supporting the discussion will be available prior to the audio webcast [1] Group 2 - Participants should log on and register at least 10 minutes before the start time and can access the slide presentation through the provided link [2] - A replay of the audio webcast will be available approximately two hours after the call concludes [2] Group 3 - Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services [3]

Event Details - The Harley-Davidson Homecoming Festival will take place from July 10-13, 2025, at Veterans Park and other venues in Milwaukee [1][4] - Ticket options include 2-Day and 1-Day General Admission (GA), GA+, and VIP, with presale starting on January 17 at 9am CT [1] - The festival will feature live music performances, local food, beverages, and more, with headliners Chris Stapleton on July 12 and Hank Williams Jr on July 11 [1][2][3][4] - Additional top acts and the full performance schedule will be announced later [4] Headliners - Chris Stapleton, a 10-time Grammy, 19-time CMA, and 19-time ACM Award-winner, will headline on July 12 [2] - Hank Williams Jr, with over 60 years in the music industry and 70 million albums sold worldwide, will headline on July 11 [3] Venues and Activities - Events will be held at both free and ticketed venues across Milwaukee, including Veterans Park, the Harley-Davidson Museum, H-D Headquarters, and local dealerships [4] - Admission to Veterans Park for live music and activities requires a ticket [4] - More entertainment and event details, including factory tours, will be announced as plans are finalized [5] Company Information - Harley-Davidson, Inc is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services [6] - The company has been defining motorcycle culture since 1903 with a range of customizable motorcycles, riding experiences, and accessories [6] - Harley-Davidson Financial Services provides financing, insurance, and other programs to help riders get on the road [6]

Leadership Changes - Jonathan Root has been promoted to President, Commercial, while retaining his role as Chief Financial Officer, effective January 27, 2025 [1] - Root will oversee global commercial operations and continue leading the finance organization, reporting directly to CEO Jochen Zeitz [1] - This promotion reflects Root's strong leadership and deep expertise in the company's business operations [2] Jonathan Root's Background - Root was appointed as CFO in June 2023 and previously served as Senior Vice President at Harley-Davidson Financial Services (HDFS) [3] - He held leadership roles including President of Eaglemark Savings Bank, President of Harley-Davidson Insurance, and President of all other HDFS subsidiaries [3] - Root joined HDFS in 2011 and holds an MBA from the University of Detroit Mercy and a Bachelor of Science in Corporate Finance from Wayne State University [3] Company Overview - Harley-Davidson, Inc is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services [4] - The company's vision is to build its legend and lead the industry through innovation, evolution, and emotion [4] - Harley-Davidson has defined motorcycle culture since 1903, offering customizable motorcycles, riding experiences, and accessories [4] - Harley-Davidson Financial Services provides financing, insurance, and other programs to support riders [4]

Shares of Harley-Davidson, Inc. (HOG) fell 2.6% since the company released its third-quarter 2024 results on Oct. 24, before the opening bell. HOG reported third-quarter adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate of 82 cents but declined 34% year over year. The motorcycle manufacturer generated consolidated revenues (including motorcycle sales and financial services revenues) of $1.15 billion, down 26% from the prior-year quarter.Stay up-to-date with the quarterly relea ...

Financial Performance - Net income for Harley-Davidson, Inc. in Q3 2024 was $119.0 million, or $0.91 per diluted share, down from $198.6 million, or $1.38 per diluted share in Q3 2023[154]. - Operating income for Q3 2024 was $105.8 million, a decrease of 49.4% from $209.3 million in Q3 2023[175]. - Net income attributable to Harley-Davidson, Inc. was $119.0 million in Q3 2024, a decrease of 40.1% from $198.6 million in Q3 2023[175]. - Diluted earnings per share decreased to $0.91 in Q3 2024, down 34.1% from $1.38 in Q3 2023[178]. - Revenue for the third quarter of 2024 was $876.4 million, a decrease of $420.6 million or 32.5% compared to the same period in 2023[187]. - The Company reported a gross profit of $263.8 million in Q3 2024, a decrease of 35.8% from $410.7 million in Q3 2023[185]. - Operating income for the first nine months of 2024 was $610.0 million, down $190.3 million or 23.8% from $800.2 million in the same period last year[197]. - Net income attributable to Harley-Davidson, Inc. for the first nine months of 2024 was $572.2 million, a decrease of $108.5 million or 15.9% compared to $680.8 million in the same period last year[197]. - Diluted earnings per share for the first nine months of 2024 was $4.27, down from $4.65 in the same period last year, reflecting a decrease of 8.2%[200]. Sales and Shipments - Worldwide retail sales of new Harley-Davidson motorcycles declined by 13.2% in Q3 2024 compared to Q3 2023, with North America down 10.1% and EMEA down 22.8%[156]. - Worldwide motorcycle shipments were 27,520 units in Q3 2024, a decline of 39.2% compared to 45,269 units in Q3 2023[184]. - Harley-Davidson's worldwide retail sales of new motorcycles decreased by 5.3% in the first nine months of 2024, totaling 125,569 units compared to 132,609 units in the same period last year[202]. - In North America, retail sales fell by 1.7%, with 86,896 units sold, while Europe/Middle East/Africa (EMEA) and Asia Pacific saw declines of 11.7% and 14.9%, respectively[202]. - Harley-Davidson shipped 134,852 motorcycles worldwide, a decrease of 10.4% compared to 150,440 units in the first nine months of 2023[206]. Segment Performance - HDMC segment operating income decreased by $120.1 million to $55.1 million in Q3 2024, primarily due to lower motorcycle shipments as dealers adjusted inventory levels[155]. - The HDMC segment reported operating income of $55.1 million in Q3 2024, down $120.1 million or 68.5% compared to the same period last year[175]. - Revenue for the HDMC segment was $2,905.9 million, down 9.7% from $3,216.4 million in the same period last year[207]. - Operating income for the HDMC segment decreased by 30.3% to $491.5 million, with an operating margin of 13.3% compared to 17.4% in the prior year[207]. - LiveWire motorcycle sales are projected to be between 600 to 1,000 units in 2024, down from a previous estimate of 1,000 to 1,500 units[170]. - LiveWire segment revenue decreased by $3.3 million, or 41.0%, to $4.8 million in the third quarter of 2024, primarily due to lower electric balance bike volumes[189]. - LiveWire segment revenue decreased by $6.974 million, or 30.4%, to $15.958 million, primarily due to lower electric balance bike volumes[212]. Cost and Productivity - The company achieved approximately $123 million in productivity savings in 2023 and expects around $100 million in cost productivity savings for 2024[172]. - Operating expenses in the third quarter of 2024 were lower due to reduced people costs and discretionary spending, reflecting the company's focus on cost discipline[188]. - Operating expenses for the first nine months of 2024 were lower due to reduced personnel costs and discretionary spending, reflecting the company's focus on cost discipline[210]. Future Outlook - The company expects HDMC revenue to decline by 14% to 16% in 2024, a revision from the previous expectation of a 5% to 9% decline[168]. - Retail unit sales for 2024 are now expected to be down 6% to 8% compared to 2023, revised from a previous expectation of flat to up 3%[168]. - HDFS operating income is expected to increase by 5% to 10% in 2024, revised from a previous expectation of flat to up 5%[170]. - Capital investments for 2024 are projected to be between $225 million and $250 million, focusing on core product innovation and manufacturing improvements[173]. - The Company plans to repurchase approximately $1 billion of shares starting in Q3 2024 through the end of 2026, with a revised plan to repurchase up to $450 million in 2024[174]. Tax and Financial Position - The effective income tax rate for Q3 2024 was 12.8%, down from 17.7% in Q3 2023, due to changes in earnings mix and increased tax credits[177]. - The company's effective income tax rate for the first nine months of 2024 was 18.0%, down from 22.1% in the same period in 2023, due to changes in the mix of earnings[199]. - As of September 30, 2024, total outstanding debt was $7.798 billion, an increase from $7.310 billion in 2023, with significant components including $3.837 billion in medium-term notes and $2.245 billion in asset-backed securitization debt[233]. - Interest-bearing brokered certificates of deposit outstanding were $549.0 million as of September 30, 2024, compared to $478.9 million in 2023, reflecting a growth of approximately 14.6%[234]. - The Company extended its $710.0 million five-year credit facility maturing in April 2025 to April 2029, enhancing liquidity and financial flexibility[235]. Market Risks - The Company has significant exposure to market risks from changes in foreign currency exchange rates, commodity prices, and interest rates[258]. - The HDMC segment's operating results are affected by fluctuations in the value of the U.S. dollar relative to foreign currencies, particularly the Euro and Japanese yen[259]. - HDFS segment operating income is affected by changes in interest rates, utilizing interest rate caps to mitigate fluctuations[262]. - The Company uses derivative financial instruments to hedge commodity prices, with no material changes reported[260]. - HDFS's retail credit losses have normalized to higher levels after a period of historically low levels, influenced by changing consumer credit behavior and macroeconomic conditions[255]. Compliance and Governance - The Company is subject to various operating and financial covenants related to its credit facilities, limiting its ability to incur certain debts and participate in mergers[250]. - Harley-Davidson Financial Services Inc. and the Company remained in compliance with all existing covenants as of September 30, 2024[252]. - The Fair Trade Commission in Japan is conducting an ongoing investigation into Harley-Davidson Japan KK[270]. - No changes in the Company's internal control over financial reporting during the quarter ended September 30, 2024[268]. - The Company has evaluated the effectiveness of its disclosure controls and procedures, concluding they were effective as of the end of the reporting period[267].