Harley-Davidson(US:HOG) Jing Ji Guan Cha Wang·2026-02-11 16:46Core Insights - Harley-Davidson's total revenue for fiscal year 2025 was $4.473 billion, a year-over-year decline of 13.76%, with net profit at $339 million, down 25.61% [1][2] - The third quarter of 2025 showed strong performance, with revenue increasing by 16.51% to $1.341 billion and net profit soaring by 217.01% to $377 million [1][3] Financial Performance - For the full fiscal year 2025, the diluted earnings per share were $2.78, with an operating profit margin of 8.64% and a gross margin of 30.24% [2] - The return on equity (ROE) was reported at 10.71%, with operating cash flow at $569 million and free cash flow at $415 million [2] Recent Events - The third quarter results were highlighted by a 16.51% increase in revenue, driven by a 23% rise in motorcycle sales [3] - The significant profit increase was partly due to a one-time credit loss provision benefit from a transaction involving Harley-Davidson Financial Services (HDFS) [3] Business Developments - Despite a 6% decline in global motorcycle retail sales, the Softail series saw a 9% growth in the U.S., increasing market share in the large cruiser segment from 61% to 68% [4] - The electric motorcycle segment, under the LiveWire brand, reported a sales increase to 184 units, an 86% year-over-year growth, with revenue up 16% and operating losses narrowing by 30% [4] Executive Changes - Artie Starrs took over as CEO on October 1, 2025, emphasizing the importance of dealer network health and inventory management during the third-quarter earnings call [5] Company Status - In early November 2025, the company launched the 2026 model lineup, featuring new paint options and the Solo kit, aiming to penetrate more niche markets with price adjustments [6] - The company maintained cost control, reducing the capital expenditure to sales ratio to 3.44% for the year [6]