Harley-Davidson Inc

Latest Results (20.08.2024):

Revenue Decline

In the first quarter of 2024, Harley-Davidson Inc. reported a consolidated revenue of $1,730 million, which represents a 3% decrease compared to the same period in 2023. This decline was primarily driven by a 5% decrease in Harley-Davidson Motor Company (HDMC) revenue, partially offset by a 12% increase in Harley-Davidson Financial Services (HDFS) revenue.

Operating Income Drop

Harley-Davidson Inc.'s consolidated operating income for Q1 2024 was $263 million, down 29% from the previous year's $370 million. This significant drop was due to a 29% decline in HDMC operating income and an 8% decline in HDFS operating income, along with an operating loss of $29 million in the LiveWire segment.

Net Income and EPS

For the first quarter of 2024, Harley-Davidson Inc. reported a net income attributable to the company of $235 million, a 23% decrease from $304 million in Q1 2023. The diluted earnings per share (EPS) also saw a decline, dropping from $2.04 in the previous year to $1.72 in the current quarter, marking a 16% decrease.

Motorcycle Sales Performance

Harley-Davidson Inc. experienced a 6% increase in North American motorcycle retail sales in Q1 2024, driven by the new Touring motorcycles introduced at the end of January. However, global retail motorcycle sales remained flat compared to the previous year, with declines in the EMEA and Asia Pacific regions offsetting the growth in North America.

Share Repurchase and Dividends

During the first quarter of 2024, Harley-Davidson Inc. repurchased $98 million worth of shares, equivalent to 2.5 million shares, on a discretionary basis. Additionally, the company paid out $24 million in cash dividends, demonstrating its commitment to returning cash to shareholders.