Harley-Davidson Delivers Second Quarter Financial Results

MILWAUKEE, July 27, 2023

"Harley-Davidson showed continued progress in delivery of our Hardwire strategy this quarter, despite the macro-economic conditions affecting both the business and our customers. Following the production suspension we experienced late in the quarter impacting motorcycle shipments, we achieved retail growth for the quarter in addition to a strong increase in gross margin," said Jochen Zeitz, Chairman, President and CEO, Harley-Davidson. "We are confident in our ability to navigate near-term headwinds and remain optimistic on the future, most notably following the successful launch of our game-changing CVO's and the highly attended gathering of our community during our anniversary year, reinforcing the enduring power of the brand."

Second Quarter 2023 Highlights and Results

• Strategy remains grounded in desirability and profitability
• 120^th Anniversary events in Budapest and Milwaukee reinforced overall brand strength
• Introduced two new CVO motorcycles, as well as new models in the Enthusiast and Icons collections
• HDMC Gross Margin of 34.8%, an increase of 400 basis points
• HDMC Revenue declined 4%, behind a 10% decrease in wholesale shipments related to an unplanned production suspension
• HDFS Revenue increased 19% on higher interest income and increased investment income
• Delivered diluted EPS of $1.22
• Company revises full year 2023 outlook

First Half 2023 Highlights and Results

• Achieved HDMC Operating Income Margin of 19.2%, an increase of 240 basis points
• HDMC Revenue was up 8 percent versus prior year driven by a 2 percent increase in wholesale motorcycle unit shipments
• Delivered diluted EPS of $3.27, up 12 percent
• Repurchased $156 million of shares (4.1 million shares) on a discretionary basis

Second Quarter 2023 Results

Harley-Davidson, Inc. Consolidated Financial Results 

$ in millions (except EPS) ARIVA.DE Börsen-Geflüster Werbung Weiter aufwärts? Kurzfristig positionieren in Harley-Davidson Inc. HS3F48 Ask: 0,87 Hebel: 4,46 mit moderatem Hebel Zum Produkt HSBC Den Basisprospekt sowie die Endgültigen Bedingungen und die Basisinformationsblätter erhalten Sie hier: HS3F48,. Beachten Sie auch die weiteren Hinweise zu dieser Werbung. Der Emittent ist berechtigt, Wertpapiere mit open end-Laufzeit zu kündigen. Kurse Harley-Davidson Inc. 39,75 $ +3,43% LIVEWIRE GROUP 7,84 $ +4,12%	2nd quarter
	2023	2022	Change
Revenue	$1,446	$1,469	-2 %
Operating Income	$221	$278	-20 %
Net Income Attributable to HDI	$178	$216	-18 %
Diluted EPS	$1.22	$1.46	-16 %

Consolidated revenue was down 2 percent in the second quarter, driven by a revenue decline of 4 percent at HDMC, which was partially offset by revenue growth of 19 percent at HDFS.

Consolidated operating income in the second quarter was down 20 percent, driven by a decline of 8 percent at HDMC, a decline of 31 percent at HDFS, and an operating loss of $32 million in the LiveWire segment. Consolidated operating income margin in the second quarter was 15.3 percent compared to 18.9 percent in the second quarter a year ago.

Harley-Davidson Motor Company (HDMC) – Results

Second quarter global motorcycle shipments decreased 10 percent, due to an unplanned production suspension that occurred in Q2. Revenue was down 4 percent, with global pricing partially offsetting unit declines. Parts & Accessories revenue was up 1 percent driven by improved digital efforts, while Apparel revenue was down 14 percent compared to a strong Q2 period last year, as the bulk of seasonal product sales occurred in Q2 last year, compared to Q1 of this year.

Second quarter gross margin was up 4.0 points behind pricing, cost productivity, and shipment mix, more than offsetting the negative impacts from reduced volume and foreign currency. Second quarter operating income margin fell by 0.6 points due to higher operating expense, including higher people costs and marketing spend.

Harley-Davidson Retail Motorcycle Sales 
(excludes LiveWire units)

Motorcycles (thousands)	2nd quarter
	2023	2022	Change
North America	35.1	34.7	1 %
EMEA	8.1	8.7	-6 %
Asia Pacific	7.5	6.0	24 %
Latin America	0.8	0.8 Werbung Mehr Nachrichten zur Harley-Davidson Inc. Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 12:13 - PR Newswire Finsbury Growth & Income Trust Plc - Transaction in Own Shares 12:06 - PR Newswire BH Macro Limited - Transaction in Own Shares 08:41 - PR Newswire Cohen & Steers Capital Management - Form 8.3 - Tritax Big Box REIT plc Der KI-Boom ist vorbei!    Aber dieser heiße Sektor verspricht, weiter zu wachsen... weiterlesen» Anzeige wo-site-teaser-box-16737_site-teaser-box_2024-04-23_09%253A00%253A00_2024-04-24_09%253A00%253A59