Financial Performance - Consolidated revenue for Q1 2024 was $1,730 million, down 3% from $1,789 million in Q1 2023[4] - Operating income decreased by 29% to $263 million, compared to $370 million in the prior year[5] - Net income attributable to Harley-Davidson was $235 million, a decline of 23% from $304 million in Q1 2023[4] - Diluted EPS for Q1 2024 was $1.72, down 16% from $2.04 in the same quarter last year[4] - HDMC revenue for Q1 2024 was $1,476,106, a decrease of 5.2% from $1,557,829 in Q1 2023[25] - Gross profit for Q1 2024 was $461,070, down 17.2% from $557,026 in Q1 2023[25] - Operating income from HDMC decreased to $238,445 in Q1 2024, compared to $335,736 in Q1 2023, reflecting a decline of 29%[25] - Net income attributable to Harley-Davidson, Inc. for Q1 2024 was $234,941, down 22.6% from $304,090 in Q1 2023[25] - LiveWire revenue decreased to $4,704 in Q1 2024 from $7,762 in Q1 2023, resulting in an operating loss of $29,241[25] - HDFS revenue increased to $248,797 in Q1 2024 from $223,095 in Q1 2023, with operating income of $53,875[25] - The provision for credit losses in HDFS for Q1 2024 was $61,010, compared to $52,364 in Q1 2023[37] - Cash and cash equivalents at the end of Q1 2024 were $1,464,614, down from $1,561,200 at the end of Q1 2023[29] - The company reported a cash dividend of $0.1725 per share in Q1 2024, an increase from $0.1650 in Q1 2023[25] Sales Performance - North America motorcycle retail sales increased by 6%, driven by new Touring motorcycles introduced at the end of January[6] - Global motorcycle shipments decreased by 7% to 57.7 thousand units, with revenue down 5% to $1,476 million[7] - HDMC U.S. motorcycle shipments were 41,577 in Q1 2024, a slight decrease from 42,588 in Q1 2023[33] - Total worldwide retail sales for Q1 2024 were $39.405 billion, a slight decrease of 0.05% compared to $39.425 billion in Q1 2023[39] - North America retail sales increased to $27.486 billion in Q1 2024, up 5.63% from $26.021 billion in Q1 2023[39] - EMEA retail sales decreased to $5.264 billion in Q1 2024, down 11.03% from $5.917 billion in Q1 2023[39] - Asia Pacific retail sales fell to $6.034 billion in Q1 2024, a decline of 12.31% compared to $6.881 billion in Q1 2023[39] - Latin America retail sales increased slightly to $621 million in Q1 2024, up 2.48% from $606 million in Q1 2023[39] LiveWire Performance - LiveWire electric motorcycle unit sales increased by 86% to 117 units, despite a 39% decline in revenue to $5 million[12] - For the full year 2024, the company revised its LiveWire operating loss guidance to an improved range of $105 to $115 million[14]

MILWAUKEE, April 8, 2024 /PRNewswire/ -- Harley-Davidson is pleased to announce that the Company has ratified new collective bargaining agreements with the three Unions representing employees at the Company's Wisconsin manufacturing facilities, namely the United Steelworkers Local 2-209 and the International Association of Machinists and Aerospace Workers Lodge 78 representing workers at the Menomonee Falls, WI facility, and the United Steelworkers Local 460 representing workers at the Tomahawk, WI facility ...

Financial Performance - Harley-Davidson, Inc. reported total revenue of $5.84 billion for the year ended December 31, 2023, an increase from $5.76 billion in 2022, representing a growth of approximately 1.5%[322]. - The net income attributable to Harley-Davidson, Inc. for 2023 was $706.6 million, compared to $741.4 million in 2022, reflecting a decrease of about 4.7%[322]. - The company's operating income for 2023 was $779.1 million, down from $909.3 million in 2022, a decrease of about 14.3%[322]. - Comprehensive income attributable to Harley-Davidson, Inc. for 2023 was $743.6 million, compared to $640.4 million in 2022, representing an increase of about 16.1%[326]. - Harley-Davidson's earnings per share (EPS) for 2023 was $4.96, slightly down from $5.01 in 2022, a decrease of about 1%[322]. - The company declared cash dividends per share of $0.66 in 2023, an increase from $0.63 in 2022, marking a growth of approximately 4.8%[322]. Financial Position - Total assets increased to $12,140,554 thousand in 2023 from $11,492,476 thousand in 2022, representing a growth of approximately 5.7%[329]. - Total liabilities increased to $8,888,259 thousand in 2023 from $8,585,668 thousand in 2022, which is an increase of approximately 3.5%[329]. - The total equity attributable to Harley-Davidson, Inc. increased to $3,252,808 thousand in 2023 from $2,903,519 thousand in 2022, representing a growth of about 12.0%[337]. - The company's retail receivable portfolio totaled $6.8 billion as of December 31, 2023, with an associated allowance for credit losses of $367 million[318]. - Cash, cash equivalents, and restricted cash at the end of 2023 totaled $1,648,811 thousand, up from $1,579,177 thousand at the end of 2022, representing an increase of about 4.4%[334]. Credit and Allowance for Losses - The allowance for credit losses increased to $381.97 million in 2023 from $358.71 million in 2022[395]. - The financial services provision for credit losses increased to $227.2 million in 2023, up from $145.1 million in 2022, reflecting a rise of approximately 56.5%[322]. - Retail finance receivables past due for 90 days or more totaled $67.3 million in 2023, compared to $62.0 million in 2022, reflecting an increase of 4.2%[409]. - The provision for credit losses for retail finance receivables was $225,665,000 in 2023, compared to $144,756,000 in 2022, indicating a significant increase in expected credit losses[403]. Derivative Financial Instruments - The notional U.S. dollar value of outstanding foreign currency contracts was $540.1 million as of December 31, 2023, down from $550.2 million in 2022[291]. - The Company selectively uses derivative financial instruments to manage market risks, including foreign currency exchange rates and interest rates[290]. - The Company’s total derivative financial instruments designated as cash flow hedging instruments had a notional value of $1,961.3 million in 2023, up from $1,918.0 million in 2022[422]. - The total gain/(loss) recognized in income related to derivative financial instruments designated as cash flow hedges for 2023 was $48.583 million, compared to a loss of $44.767 million in 2022[425]. Interest Rates and Debt - A one-percentage point increase in interest rates would increase financial services interest expense by approximately $11.9 million as of December 31, 2023[296]. - The Company’s total long-term debt as of December 31, 2023, was $6.246 billion, compared to $6.142 billion in 2022[437]. - The weighted-average interest rate of outstanding commercial paper balances was 6.18% at December 31, 2023, compared to 5.28% in 2022[437]. - Interest expense on secured notes for the year ended December 31, 2023, was $91.8 million, compared to $51.6 million in 2022[452]. Economic and Market Conditions - LiveWire plans to expand its business internationally, which is expected to increase its exposure to currency rate risk[294]. - The Company’s probability weighting of economic forecast scenarios is currently leaning towards a near-term recession due to high interest rates and elevated inflation levels[400]. - Retail credit losses increased significantly due to macro-economic factors, including higher motorcycle payments and inflationary pressures, leading to a total charge-off of $263,915,000 in 2023[401]. Pension and Benefits - The Company’s pension benefit obligation was $1,553.9 million as of December 31, 2023, compared to $2,174.6 million in 2022[474]. - The funded status of the pension and SERPA plans improved to $333.5 million in 2023 from $255.6 million in 2022, reflecting a 30% increase[479]. - The expected return on plan assets for pension plans was 6.80% in 2023, up from 5.60% in 2022, reflecting a positive outlook on investment performance[483]. - The service cost for pension and SERPA benefits decreased to $5.2 million in 2023 from $19.1 million in 2022, indicating a decline of 72.8%[480].

MILWAUKEE, Feb. 16, 2024 /PRNewswire/ -- The Harley-Davidson, Inc. (NYSE: HOG) Board of Directors has approved a cash dividend of $0.1725 per share for the first quarter of 2024. The dividend is payable March 20, 2024 to the shareholders of record of the Company's common stock as of March 4, 2024. Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. ### (HOG-DIVIDEND) SOURCE Harley-Davidson, Inc. ...

Harley-Davidson, Inc. (HOG) reported fourth-quarter 2023 adjusted earnings of 18 cents per share, which beat the Zacks Consensus Estimate of 4 cents but fell 35.7% year over year. The motorcycle manufacturer generated consolidated revenues (including motorcycle sales and financial services revenues) of $1.05 billion, down 8% from the prior-year quarter.Segmental HighlightsHarley-Davidson Motor Company: Total revenues from the Motorcycle and Related Products segment, constituting the bulk of the firm’s overa ...

Financial Data and Key Metrics Changes - In Q4 2023, total consolidated HDI revenue was $1.1 billion, down 8% compared to the same quarter last year [21] - For the full year 2023, total consolidated revenue was just over $5.8 billion, a 1% increase year-over-year, while total operating income was $779 million, down 14% from the previous year [23] - Q4 earnings per share was $0.18, while full year earnings per share was $4.87, compared to $4.96 in 2022 [22][23] - Operating income margin for HDMC was 13.6% in 2023, compared to 6.3% in 2019 [7][28] Business Line Data and Key Metrics Changes - Global wholesale motorcycle shipments decreased by 13% in Q4 2023, with HDMC revenue down 14% due to lower volumes [20][21] - LiveWire revenue increased from $9 million in Q4 2022 to $15 million in Q4 2023, driven by higher unit sales of Del Mar electric motorcycles [21][33] - HDFS revenue grew by 15% in Q4 2023, while operating income was $58 million, down 10% year-over-year [21][29] Market Data and Key Metrics Changes - In North America, Q4 retail sales declined by 9%, while EMEA retail sales fell by 22% [23][24] - Retail sales in Latin America increased by 46%, driven by growth in Brazil and Mexico [24] - Dealer inventory at the end of Q4 was up approximately 50% from the end of Q4 2022, indicating improved product availability [24] Company Strategy and Development Direction - The company continues to focus on its hardwired strategy, emphasizing core products and markets, innovation, and customer experience [5][8] - The launch of new touring models is a key priority, with the Grand American Touring category being central to the brand's identity [12][13] - The company aims to balance wholesales and retails through cautious inventory management and strategic pricing adjustments [17][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by high interest rates affecting consumer discretionary purchases, but expressed optimism about the new product launches [5][16] - The company expects retail units to be flat to up 9% in 2024, with wholesale unit shipments projected to decline between 1% and 10% [36] - Management highlighted the importance of maintaining dealer profitability and improving dealer sentiment through new product launches [43][44] Other Important Information - The company plans to invest between $225 million to $250 million in capital expenditures for 2024, focusing on product development and manufacturing enhancements [39][40] - Share buybacks totaled 10.2 million shares at a value of $350 million in 2023, reflecting strong cash flow generation [35] Q&A Session Summary Question: Dealer sentiment and partnership opportunities - Management acknowledged the tough year for dealers due to high interest rates but noted improved dealer sentiment due to new product launches [42][43] Question: Mix expectations for 2024 - Management indicated a shift towards higher value products, with a focus on touring and trike shipments while managing inventory levels [47][49] Question: Current versus noncurrent product mix - Management confirmed appropriate inventory levels and emphasized the importance of supporting retail as new models are introduced [52][54] Question: Impact of promotions and discounts on retail - Management observed a positive retail increase in December, correlating with promotional activities, and emphasized the need for a balanced mix of products [59][60] Question: Guidance on retail demand and EPS - Management provided a broader guidance range for retail units in 2024, acknowledging the impact of interest rates and the importance of the North American market [66][68]

Harley-Davidson (HOG) reported $807.01 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 12.2%. EPS of $0.18 for the same period compares to $0.28 a year ago.The reported revenue represents a surprise of -13.24% over the Zacks Consensus Estimate of $930.18 million. With the consensus EPS estimate being $0.04, the EPS surprise was +350.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...

Q4 and Full Year 2023 Results & 2024 Outlook Thursday, February 8, 2024 Q4 & FULL YEAR 2023 RESULTS & 2024 OUTLOOK – EARNINGS CALL Call Participants ▪ Jochen Zeitz, Chairman, President and CEO ▪ Jonathan Root, Chief Financial Officer ▪ Edel O’Sullivan, Chief Commercial Officer ▪ Karim Donnez, CEO – LiveWire (NYSE: LVWR) ...

Harley-Davidson (HOG) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 350%. A quarter ago, it was expected that this motorcycle maker would post earnings of $1.39 per share when it actually produced earnings of $1.38, delivering a surprise of -0.72%.Over the last four quarters, the co ...

Core Insights - Harley-Davidson Inc. reported a significant earnings beat for the fourth quarter, with net income of $25.8 million, or 18 cents per share, surpassing the FactSet consensus of 4 cents per share [1] - Despite the profit beat, motorcycle shipments continued to decline, falling 13% for the third consecutive quarter due to cautious dealer inventory management and market conditions [1] - Revenue decreased by 7.8% to $1.05 billion, although it exceeded the FactSet consensus of $998.2 million [1] Financial Performance - Net income decreased from $41.9 million, or 28 cents per share, in the previous year to $25.8 million, or 18 cents per share [1] - Revenue fell by 7.8% year-over-year to $1.05 billion [1] - Motorcycle sales dropped 12.5% to $583 million, while parts and accessories sales decreased by 13.9% to $130 million [1] Motorcycle Shipments and Sales - Motorcycle shipments fell by 13%, marking the third straight quarter of declines [1] - The company sold 514 LiveWire electric motorcycles in the fourth quarter, a significant increase from 69 units sold in the same period last year [1] - Harley-Davidson anticipates shipping between 1,000 to 1,500 electric motorcycles in 2024 [1]