Harley-Davidson(US:HOG)2026-02-10 11:50Financial Performance - Harley-Davidson reported a diluted EPS of $2.78 for the full year 2025, down 19% from $3.44 in 2024[4]. - Consolidated revenue for 2025 was $4.473 billion, a decline of 14% compared to $5.187 billion in 2024[4]. - HDMC revenue for Q4 2025 was $379.2 million, down from $420.5 million in Q4 2024, with a gross loss of $30.5 million compared to a loss of $3.2 million in the previous year[28]. - LiveWire revenue increased to $11.4 million in Q4 2025 from $10.4 million in Q4 2024, but it reported a gross loss of $0.5 million compared to a loss of $5.6 million in the prior year[28]. - Harley-Davidson Financial Services (HDFS) revenue decreased to $105.6 million in Q4 2025 from $256.7 million in Q4 2024, with an operating loss of $82.2 million compared to an operating income of $46.4 million in the previous year[28]. - Total revenue for the twelve months ended December 31, 2025, was $3,578,308, down from $4,121,906 in 2024, representing a decline of approximately 13.2%[34]. - The company experienced a decrease in motorcycle revenue from $3,137,331 in 2024 to $2,657,675 in 2025, a decline of approximately 15.3%[34]. - Gross profit for the twelve months ended December 31, 2025, was $867, a decrease from $1,155 in 2024, reflecting a decline of approximately 25.0%[36]. Sales and Shipments - Global retail motorcycle sales decreased by 12% year-over-year, totaling 132,535 units in 2025[3]. - HDMC global motorcycle shipments fell by 16% to 124,477 units in 2025[3]. - U.S. motorcycle shipments for the twelve months ended December 31, 2025, were 77,982 units, a decrease of 17.0% compared to 94,075 units in 2024[34]. - Total worldwide retail sales for the twelve months ended December 31, 2025, were 132,535 units, down from 151,229 units in 2024, indicating a decrease of about 12.4%[40]. - The company expects HDMC global motorcycle retail sales to be between 130,000 to 135,000 units in 2026[3]. Shareholder Returns - Harley-Davidson returned $434 million to shareholders through share repurchases and dividends in 2025[3]. Cash and Liquidity - Harley-Davidson's cash and cash equivalents stood at $3.1 billion at year-end 2025[18]. - Cash and cash equivalents rose significantly to $3.09 billion in 2025 from $1.59 billion in 2024, indicating improved liquidity[30]. - Total current assets increased to $5.59 billion in 2025 from $4.99 billion in 2024, while total liabilities decreased to $2.66 billion from $3.56 billion[30]. - The company reported a total shareholders' equity of $3.16 billion in 2025, slightly down from $3.16 billion in 2024[30]. - Net cash provided by operating activities for the twelve months ended December 31, 2025, was $568,922, a decrease from $1,063,833 in 2024[32]. - The company reported a net cash used by financing activities of $(3,010,300) for the twelve months ended December 31, 2025, compared to $(572,315) in 2024, reflecting increased financing activity[32]. Strategic Outlook - The company plans to announce a new strategic plan in May 2026, which may impact future figures[3]. - Harley-Davidson's ability to manage supply chain issues and tariffs remains critical for future performance, especially in light of geopolitical tensions and inflationary pressures[21]. - The company aims to enhance its brand value and manage risks associated with market conditions and consumer preferences[21]. - Future strategies include optimizing capital allocation and managing the impact of climate change regulations on operations[22]. Credit Loss Management - The provision for credit losses for the twelve months ended December 31, 2025, was $(191,392), compared to $247,225 in 2024, indicating a significant change in credit loss management[38]. LiveWire Performance - LiveWire's electric motorcycle shipments increased by 61% to 381 units in Q4 2025[13].