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].

BANGKOK, THAILAND - OCTOBER 26: Visitors inspect a Harley Davidson electric motorbike during the ... [+] 2024 Bangkok EV Expo at the Queen Sirikit National Convention Center in Bangkok, Thailand on October 26, 2024. (Photo by Valeria Mongelli/Anadolu via Getty Images)Anadolu via Getty ImagesHarley-Davidson stock currently trades at about $33 per share, around 33% below its levels of $49 seen on May 17, 2021 (pre-inflation shock high), and appears to be undervalued. Harley saw its stock trading at around $30 ...

Q3 2024 Results Thursday, October 24, 2024 Q3 2024 RESULTS – EARNINGS CALL Call Participants ▪ Jochen Zeitz, Chairman, President and CEO ▪ Jonathan Root, Chief Financial Officer ▪ Karim Donnez, CEO – LiveWire (NYSE: LVWR) ▪ Shawn Collins, Director Investor Relations 2 3 Q3 2024 PERFORMANCE HEADLINES • Delivered diluted EPS of $0.91 • Consolidated operating income of $106 million, down 49% year-over-year • North American retail sales down 10% year-over-year • Global retail sales down 13% year-over-year, wher ...

Financial Data and Key Metrics Changes - Consolidated revenue in Q3 2024 decreased by 26%, with HDMC revenue down 32% and HDFS revenue growth of 10% [13][14] - Consolidated operating income was $106 million, down 49% from the prior year, primarily due to a decrease of $120 million at HDMC [13][14] - Q3 earnings per share was $0.91, down 34% from $1.38 last year [14] - Year-to-date consolidated revenue of $4.5 billion was down 6% compared to last year [14][15] - Total cash and cash equivalents ended at $2.2 billion, which was $366 million higher than at the end of Q3 prior year [25][26] Business Line Data and Key Metrics Changes - HDMC revenue decreased by 32% in Q3, driven by a 39% decrease in wholesale units shipped [16][18] - HDFS revenue increased by 10% in Q3, driven by higher retail and commercial finance receivables [20][21] - LiveWire segment revenue decreased by 30% year-to-date, with an operating loss of $83 million [24][29] Market Data and Key Metrics Changes - Global retail sales of new motorcycles declined by 13% in Q3, with North America down 10% and international regions down 18% [2][4] - EMEA retail sales declined 23%, while Asia-Pacific retails were down 16%, and LatAm saw a 4% increase [4][5] - In the U.S., Harley-Davidson retail was down 1% through the end of Q3, outperforming the overall motorcycle industry [2][3] Company Strategy and Development Direction - The company is focused on reducing dealer inventory levels and supporting dealer health as it prepares for the new model year launch in 2025 [5][7] - The Hardwire strategy aims to drive productivity improvements and maintain a strong dealer network [20][50] - LiveWire is adjusting its focus to drive cost efficiencies and productivity while preparing for future growth in the EV market [10][11] Management's Comments on Operating Environment and Future Outlook - Management noted an increasingly difficult global market environment due to macroeconomic and political uncertainty, impacting consumer discretionary spending [2][5] - The company is revising its full-year 2024 outlook due to lower-than-expected retail demand [5][27] - Management expressed cautious optimism for 2025, emphasizing the need for external factors like interest rate reductions and improved consumer confidence [7][50] Other Important Information - Dealer inventory at the end of Q3 was down 13% relative to the end of Q2, with expectations to reduce inventory by another 20% by the end of 2024 [16][39] - The company bought back 4 million shares at a cost of $150 million in Q3, totaling 9.5 million shares for the first nine months of 2024 [26] Q&A Session Summary Question: Themes from recent dealer conversations - Management highlighted dealer profitability as a primary concern and discussed support measures for the dealer network in 2025 [31][32] Question: Retail trends in Q3 - Management noted a strong start in July but a weaker exit in September, attributing this to macroeconomic uncertainties [35][36] Question: Retail and wholesale alignment - Management aims to align retail and wholesale units, expecting to reduce dealer inventory levels significantly [38][39] Question: LiveWire's cash burn reduction - Management confirmed a focus on reducing cash burn by 40% next year, with significant actions already taken to streamline operations [63][65] Question: Expectations for 2025 - Management expressed cautious optimism for 2025, emphasizing the importance of external factors and ongoing cost control measures [49][50]

For the quarter ended September 2024, Harley-Davidson (HOG) reported revenue of $881.21 million, down 32.5% over the same period last year. EPS came in at $0.91, compared to $1.38 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $970.25 million, representing a surprise of -9.18%. The company delivered an EPS surprise of +10.98%, with the consensus EPS estimate being $0.82.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...