Harley-Davidson, Inc. (NYSE:HOG) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Shawn Collins - Director Investor Relations Jochen Zeitz - Chairman, President and CEO Ryan Morrissey - President, LiveWire Gina Goetter - Chief Financial Officer Edel O’Sullivan - Chief Commercial Officer David Viney - Interim Chief Financial Officer Conference Call Participants Robert Ohmes - Bank of America Craig Kennison - Baird Joseph Altobello - Raymond James James Hardiman - Citigroup Ger ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-9183 Harley-Davidson, Inc. (Exact name of registrant as specified in its charter) Wisconsin 39-1382325 (State of organization) (I.R.S. Employer Ide ...

Financial Data and Key Metrics Changes - In Q4 2022, total consolidated revenue was $1.14 billion, a 12% increase year-over-year, with HDMC revenue up 14% and HDFS revenue up 7% [25][27] - Full year 2022 total consolidated revenue reached $5.8 billion, an 8% increase compared to the previous year, with total operating income of $909 million, a 10% increase [27][34] - Earnings per share for the full year was $4.96, an 18% increase from $4.19 in the previous year [27][34] - HDMC operating margin improved from 10.6% in 2021 to 13.9% in 2022, driven by pricing and productivity [31][34] Business Line Data and Key Metrics Changes - HDMC wholesale motorcycle units increased by 18% year-over-year, contributing to a 14% revenue increase [25][29] - LiveWire segment revenue decreased by 28% in Q4 to $9 million, but full year revenue was $47 million, a 31% increase [32][34] - Parts and accessories business grew by 7% on a per bike basis despite supply chain challenges [13][27] Market Data and Key Metrics Changes - Global retail sales of new motorcycles were flat in Q4, with total 2022 retail sales down 8% globally, primarily due to a production suspension in Q2 [27][28] - APAC retail grew by 12%, with significant growth in Japan and China, driven by focused investments [28][29] - North America retail sales declined by 12% for the full year, attributed to the production suspension [28] Company Strategy and Development Direction - The company is focused on its Hardwire strategic plan, emphasizing profitable growth rather than unit growth [6][8] - Key strategic pillars include strengthening positions in profitable motorcycle segments, expanding product offerings, and enhancing customer experience [8][12] - The company aims to capitalize on its 120th anniversary to engage with customers and promote its brand [41] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the potential for growth in 2023, despite ongoing economic challenges [8][10] - The company anticipates flat to slightly positive retail growth for the year, with stronger performance expected in the second and third quarters [44][60] - Management is focused on maintaining product desirability and profitability while adjusting to market demand [62] Other Important Information - The company plans to invest $225 million to $250 million in capital expenditures in 2023, focusing on product development and manufacturing enhancements [36][38] - The company is also addressing supply chain costs, aiming to eliminate $400 million of incremental costs incurred since 2020 [37] Q&A Session Summary Question: Demand signals across consumer segments - Management noted that demand signals are still early, but January performance was in line with expectations, anticipating flat to slightly positive retail growth for the year [43][44] Question: Retail and shipment tracking in 2023 - Management expects a combination of unit growth and pipeline filling to equate to a 2% growth in motorcycle units for the year [48] Question: Dealer inventory numbers - Current dealer inventory stands at 34,000 units, which is 15,000 more than in 2022 but still 60% of 2019 levels, indicating a healthier inventory position [54] Question: Guidance clarification for 2023 - Management confirmed that the EBITDA guidance for 2023 is in the range of $850 million to $875 million [56][57] Question: LiveWire unit expectations - The change in unit expectations for LiveWire is primarily due to a revised timeline for the Del Mar motorcycle, with sales expected to ramp up in the second half of 2023 [58] Question: Industry outlook and market share - Management is focusing on internal growth opportunities rather than industry-wide comparisons, expecting core quarters to drive retail growth [60][62]

Harley-Davidson, Inc. (NYSE:HOG) Q3 2022 Earnings Conference Call October 26, 2022 9:00 AM ET Company Participants Shawn Collins - Director of IR Jochen Zeitz - Chairman, President and Chief Operating Officer Gina Goetter - Chief Financial Officer Edel O’Sullivan - Chief Operating Officer Conference Call Participants Robert Ohmes - Bank of America Craig Kennison - Baird Joseph Altobello - Raymond James James Hardiman - Citi Fred Wightman - Wolfe Research Gerrick Johnson - BMO Capital Markets Joseph Spak - R ...

Harley-Davidson, Inc. (NYSE:HOG) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Shawn Collins - Director of IR Jochen Zeitz - Chairman, President and CEO Gina Goetter - CFO Edel O’Sullivan - COO Conference Call Participants Craig Kennison - Baird Robby Ohmes - Bank of America Brett Andress - KeyBanc Joseph Altobello - Raymond James Fred Wightman - Wolfe Research Gerrick Johnson - BMO Capital Markets Jaime Katz - Morningstar Operator Thank you for standing by, and welcome to t ...

Start Time: 09:00 January 1, 0000 9:38 AM ET Harley-Davidson, Inc. (NYSE:HOG) Q1 2022 Earnings Conference Call April 27, 2022, 09:00 AM ET Company Participants Jochen Zeitz - Chairman, President and CEO Gina Goetter - CFO Edel O’Sullivan - Chief Commercial Officer Shawn Collins - Director of IR Conference Call Participants Robert Ohmes - Bank of America Merrill Lynch Joseph Altobello - Raymond James Craig Kennison - Robert W. Baird Joseph Nolan - Longbow Research Jamie Katz - Morningstar Brett Andress - Key ...

Harley-Davidson, Inc. (NYSE:HOG) Q4 2021 Earnings Conference Call February 8, 2022 9:00 AM ET Company Participants Shawn Collins - Director of Investor Relations Jochen Zeitz - Chairman, President and Chief Executive Officer Gina Goetter - Chief Financial Officer Edel O’Sullivan - Chief Commercial Officer Conference Call Participants Craig Kennison - Robert W. Baird & Co. Robert Ohmes - Bank of America Merrill Lynch Billy Kovanis - Morgan Stanley Fred Wightman - Wolfe Research LLC Joseph Altobello - Raymond ...

Harley-Davidson, Inc. (NYSE:HOG) Q3 2021 Earnings Conference Call October 27, 2021 9:00 AM ET Company Participants Shawn Collins - IR Jochen Zeitz - Chairman, President & CEO Gina Goetter - CFO Edel O’Sullivan - Chief Commercial Officer Conference Call Participants Robert Ohmes - Bank of America Merrill Lynch Joseph Altobello - Raymond James & Associates David MacGregor - Longbow Research Jaime Katz - Morningstar James Hardiman - Wedbush Securities Craig Kennison - Robert W. Baird & Co. Gerrick Johnson - BM ...

Harley-Davidson Inc. (NYSE:HOG) Q1 2021 Earnings Conference Call April 20, 2021 9:00 AM ET Company Participants Shannon Burns - Manager, Investor Relations Jochen Zeitz - Chairman, President and Chief Executive Officer Gina Goetter - Chief Financial Officer Edel O’Sullivan - Chief Commercial Officer Conference Call Participants Craig Kennison - Baird Robby Ohmes - Bank of America Shawn Collins - Citigroup Research Jaime Katz - Morningstar James Hardiman - Wedbush Securities Joseph Spak - RBC Capital Markets ...