Core Insights - Harley-Davidson, Inc. reported a fourth-quarter 2024 adjusted loss of 93 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 68 cents, and a significant decline from earnings of 18 cents per share in the same quarter last year [1] - The company generated consolidated revenues of $688 million, down 35% from the prior-year quarter [1] Segmental Highlights - Revenues from the Motorcycle and Related Products segment fell 47% year-over-year to $420 million, missing the forecast of $463 million due to lower motorcycle shipments [2] - Worldwide motorcycle shipments decreased 15% to 25,700 units, lagging behind the estimate of 27,122 units [2] - Revenues from motorcycle sales were $231 million, down 60% year-over-year, with an operating loss of $214 million, wider than the loss of $44 million in the same quarter of 2023 [2] - Retail motorcycle units sold globally were 25,660, down 14.9% year-over-year, with North America sales decreasing 4% to 15,127 units [3] Financial Performance - Revenues for parts and accessories were down 10% year-over-year to $118 million, but exceeded the estimate of $94.7 million [4] - Revenues from Harley-Davidson Financial Services totaled $257 million, up 4% year-over-year, but missed the forecast of $267.1 million [4] - Operating income for Financial Services fell 20% to $46 million, missing the estimate of $56.1 million [4] LiveWire Segment - Total shipments for LiveWire were 236 units, declining 54% from the year-ago quarter, with revenues down 32% to $10 million [5] - Operating loss for LiveWire narrowed from $35 million to $26 million, which was better than the projected loss of $29 million [5] Financial Position - Selling, general and administrative expenses decreased to $210.5 million from $225.5 million in the year-ago quarter [6] - Cash and cash equivalents were $1.59 billion as of December 31, 2024, up from $1.53 billion a year earlier [6] - Long-term debt decreased to $4.47 million from $4.99 million recorded as of December 31, 2023 [6] 2025 Guidance - For 2025, the company expects revenues from HDMC to remain flat to down 5% year-over-year, with an operating income margin expectation of 7-8% for the motorcycle segment [7] - Operating income for Financial Services is anticipated to fall 10-15% compared to 2024 [7] - Electric motorcycle wholesale units for the LiveWire segment are expected to be in the range of 1,000-1,500, with an anticipated operating loss of $70-$80 million [8] - Capital expenditure projection for the full year is estimated to be in the range of $225-$250 million [8]

Financial Data and Key Metrics Changes - In Q4 2024, consolidated revenue decreased by 35%, primarily due to a 47% decline in HDMC revenue, partially offset by a 4% increase in HDFS revenue [45] - Consolidated operating loss in Q4 was $193 million, compared to an operating loss of $21 million in Q4 2023 [46] - Full year 2024 consolidated revenue was $5.2 billion, an 11% decrease compared to the previous year, with consolidated operating income of $417 million, down 47% from 2023 [48] - Earnings per share for 2024 was $3.44, down from $4.97 in 2023 [50] Business Line Data and Key Metrics Changes - HDMC revenue decreased by 15% for the full year 2024, while HDFS revenue increased by 9% [48] - LiveWire reported an operating loss of $110 million for 2024, with a 31% decline in revenue [49][40] - HDMC's operating income was $278 million, down 58% from the prior year, while HDFS operating income was $248 million, up 6% [49] Market Data and Key Metrics Changes - Global retail sales of new motorcycles declined by 15% in Q4 2024, with North America down 13% and international sales down 17% [50] - For the full year 2024, global retail sales were down 7%, with North America retail sales declining by 4% and international sales down 13% [54] - EMEA retail sales were down 11% for the full year, while Asia Pacific retail sales declined by 18% [52][53] Company Strategy and Development Direction - The company continues to execute its Hardwire strategy, focusing on profitable growth despite macroeconomic challenges [6] - The launch of new models, particularly in the Touring segment, has contributed to market share gains, with Harley-Davidson achieving a 74.5% market share in the US Touring segment [7][12] - The company plans to invest in entry-level motorcycles and small cruisers, as well as expand into the adventure touring segment [14][15] Management's Comments on Operating Environment and Future Outlook - Management noted that the high interest rate environment has impacted consumer confidence and affordability [6] - The company expects flat retail sales for 2025, with positive performance skewed towards the second half of the year [34][80] - Management is cautious about macroeconomic conditions but believes the company is well-positioned for future growth [35] Other Important Information - The company achieved operating cash flow of over $1 billion in 2024, a nearly 40% increase from the prior year [24] - Total headcount was down by 7% compared to the end of Q4 2023, contributing to cost productivity savings of $257 million [23][68] - The company repurchased 12.5 million shares in 2024, totaling $450 million, as part of its capital allocation strategy [78] Q&A Session Summary Question: Inventory reduction expectations for touring - Management expects dealer inventory to end the year down 10%, with a more pronounced decrease in the first half of the year [92][93] Question: Margin surprise in Q4 - The margin surprise was attributed to lower volumes, manufacturing costs, and retooling expenses, impacting overall operating income margin [102] Question: Retail outlook for 2025 - Management anticipates a better performance in the second half of 2025 compared to the first half, driven by new product launches and customer awareness [106][108]

Core Insights - Harley-Davidson reported a significant decline in revenue and earnings for the quarter ended December 2024, with revenue of $430.89 million, down 46.6% year-over-year, and an EPS of -$0.93 compared to $0.18 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $481.81 million by 10.57%, while the EPS also missed the consensus estimate of -$0.68 by 36.76% [1] Financial Performance - Total worldwide retail sales of Harley-Davidson motorcycles were 25,660, slightly below the average estimate of 26,340 [4] - Total motorcycle shipments were 14,010, compared to the estimated 15,331 [4] - Revenue from motorcycles and related products was $420.49 million, down 46.9% year-over-year, and below the average estimate of $481.81 million [4] - Revenue from motorcycles was $231.47 million, a decline of 60.3% compared to the previous year, and below the estimate of $286.10 million [4] - Revenue from financial services was $256.72 million, representing a 4.3% increase year-over-year, and slightly above the estimate of $254.39 million [4] Market Performance - Harley-Davidson shares have returned -9% over the past month, contrasting with the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Q4 and Full Year 2024 Results Wednesday, February 5, 2025 Q4 AND FULL YEAR 2024 RESULTS – EARNINGS CALL Call Participants 2 ▪ Jochen Zeitz, Chairman, President and CEO ▪ Jonathan Root, Chief Financial Officer and President, Commercial ▪ Karim Donnez, CEO – LiveWire (NYSE: LVWR) ▪ Shawn Collins, Director Investor Relations FULL YEAR 2024 PERFORMANCE HEADLINES 3 • Delivered diluted EPS of $3.44 • HDMC operating income of $278 million for an operating margin of 6.7% • HDMC global motorcycle shipments of 148,86 ...

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]