Welcome to our dedicated page for Harley-Davidson news (Ticker: HOG), a resource for investors and traders seeking the latest updates and insights on Harley-Davidson stock.
Harley-Davidson, Inc. (NYSE: HOG) is a global leader in manufacturing heavyweight motorcycles and offers customized, cruiser, and touring motorcycles along with a complete line of parts, accessories, riding gear, and apparel. Founded in 1903, the company has consistently fulfilled dreams of personal freedom, allowing people to express and liberate themselves through their unique and emotionally resonant products.
Harley-Davidson operates through three primary segments: Harley-Davidson Motor Company (HDMC), Harley-Davidson Financial Services (HDFS), and LiveWire Group, Inc., the first publicly traded all-electric motorcycle company in the United States. HDMC focuses on producing and selling motorcycles, parts, accessories, and apparel, while HDFS provides financing, insurance, and wholesale services to dealers and customers.
Despite facing challenges in recent years, Harley-Davidson has implemented its 'Hardwire' strategy to drive profitability and growth. In 2023, the company reported a 6% decline in consolidated revenue in Q3, with a significant drop in operating income. Nevertheless, Harley-Davidson successfully launched its pinnacle CVO motorcycles, achieving a 25% increase in CVO retail sales.
The company has also expanded into the adventure touring market with the Pan America model and electric motorcycles through the LiveWire brand. Notably, in Q1 2024, Harley-Davidson saw a 6% increase in North America retail sales, driven by the new Touring motorcycles. However, global shipments decreased by 7% due to lower wholesale volumes and pricing challenges.
Harley-Davidson remains committed to innovation with its recent launch of the 2024 Street Glide and Road Glide models, featuring advanced technology and the powerful Milwaukee-Eight 117 engine. The company also introduced the CVO™ Pan America®, marking its first foray into the adventure touring segment.
The company actively engages with its community through events like the annual Harley-Davidson Homecoming™ Festival and maintains strong labor relations, recently ratifying new collective bargaining agreements with unions in Wisconsin.
Harley-Davidson's mission extends beyond building motorcycles; it stands for the timeless pursuit of adventure and freedom for the soul. With its diverse product range, strong community engagement, and commitment to innovation, Harley-Davidson continues to define motorcycle culture worldwide.
On January 19, 2021, Harley-Davidson (NYSE:HOG) will host its first-ever virtual launch event, introducing new motorcycles, parts, accessories, and apparel for 2021. This event marks a significant shift in the company's marketing strategy, aimed at streamlining its product lineup by 30% to better align with market demand. Jason Momoa will participate, sharing his passion for the upcoming Pan America™ 1250 adventure touring motorcycle. A full reveal of the Pan America is scheduled for February 22, 2021.
Harley-Davidson and Hero MotoCorp have entered a distribution agreement for the sale and service of Harley-Davidson motorcycles in India. Hero MotoCorp will utilize its dealership network and sell Harley-branded parts, accessories, and merchandise. Additionally, a licensing agreement allows Hero to develop premium motorcycles under the Harley name. This partnership aligns with Harley-Davidson's business overhaul strategy, known as The Rewire, aimed at enhancing operations in India.
Harley-Davidson (NYSE: HOG) is set to release its third quarter 2020 financial results on October 27, 2020, before market hours. An audio webcast will be held from 8-9 a.m. CDT, featuring insights from CEO Jochen Zeitz and CFO Gina Goetter. Attendees can access a supporting slide presentation 30 minutes prior. Participants are encouraged to log on 10 minutes early. A replay of the webcast will be available two hours after the conclusion. For more information, visit the Harley-Davidson Investor Relations page.
Harley-Davidson (NYSE:HOG) showcases its LiveWire® electric motorcycle in an extreme off-road adventure spanning 13,000 miles. This journey highlights the bike's performance and capabilities, documented in a new podcast series featuring the engineering team's modifications. The project involved rapid design and assembly of near-production models, emphasizing Harley-Davidson's commitment to innovation in electrification. In connection with the launch of 'Long Way Up' on Apple TV+, riders can experience the LiveWire with complimentary merchandise at authorized dealerships.
Harley-Davidson announced that Gina Goetter, a finance executive from Tyson Foods, will join as CFO effective September 30. Goetter brings over 20 years of experience, particularly in transforming business models for financial stability. Jochen Zeitz, CEO, emphasized her capability to enhance operational efficiencies and modernization efforts within the company.
The announcement coincides with Harley-Davidson's ongoing restructuring plan known as 'The Rewire,' which aims to improve operational models and prepare for a new strategic plan for 2021-2025.
Harley-Davidson (NYSE: HOG) has appointed Jagdish Krishnan as Chief Digital Officer, focusing on enhancing consumer experiences through digital transformation. Krishnan will spearhead a new digital strategy to connect with customers and modernize global information systems. This role is part of Harley-Davidson's initiative called The Rewire, aimed at overhauling the company's operating model to create better customer-centric solutions. The company anticipates revealing its strategic plan, The Hardwire, by Q4 2021.
Harley-Davidson reported its Q2 2020 results, revealing a 47% drop in revenue to $865 million due to COVID-19 impacts. The company posted a net loss of $92 million, significantly down from $196 million in profit the previous year. Harley's Rewire initiative aims to streamline operations, reduce workforce by 700 positions, and refocus on high-potential markets, while launching new products including the Pan America 1250. The company maintains a strong liquidity position with $4.7 billion. A cash dividend of $0.02 per share will be paid on September 25, 2020.
Harley-Davidson (NYSE: HOG) will release its second quarter 2020 financial results on July 28, 2020, before market hours. The audio webcast will take place from 8-9 a.m. CDT, featuring CEO Jochen Zeitz and interim CFO Darrell Thomas discussing the financial outcomes and business developments, alongside The Rewire efforts. A slide presentation will be accessible 30 minutes prior to the call. Participants are advised to register at least 10 minutes early. A replay will be available two hours post-event.
Harley-Davidson announced significant changes as part of its "Rewire" initiative, aiming to streamline operations and improve efficiency. The restructuring is expected to incur costs of approximately $42 million in Q2 2020, with around 700 positions eliminated globally, including a leadership change as CFO John Olin departs. Key goals include enhancing core strengths, prioritizing essential markets, and simplifying product lines. A detailed report on The Rewire's financial implications will be shared with the upcoming Q2 results.
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