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.
Harley-Davidson reported a strong start to 2023 with Q1 revenue of $1.79 billion, marking a 20% increase year-over-year. The company achieved a diluted EPS of $2.04, up 41%. Harley-Davidson Motor Company (HDMC) revenue was $1.56 billion, a 21% rise, driven by increased wholesale shipments and favorable pricing. Operating income margin improved to 21.6%, a 4.6-point increase. However, Harley-Davidson Financial Services (HDFS) faced a 32% decline in operating income due to higher interest expenses. The company has reaffirmed its full-year outlook, forecasting HDMC revenue growth of 4-7% and HDFS operating income to decline between 20-25%.
Harley-Davidson (NYSE: HOG) has announced the upcoming debut of two new 2023 Custom Vehicle Operations (CVO) motorcycles, the CVO Street Glide and CVO Road Glide, set to premiere on June 7, 2023, during the Harley-Davidson Homecoming and 120th Anniversary events. These limited-production models feature significant visual and technological upgrades while preserving the heritage of the brand. Key enhancements include the new Milwaukee-Eight VVT 121 engine, an all-new infotainment system, and revamped suspension. According to Jochen Zeitz, Chairman and CEO, these models redefine the CVO category and elevate the Grand American Touring experience. The designs promise dramatic aesthetics with integrated lighting and modern silhouettes, showcasing Harley's commitment to innovation.
On April 20, 2023, Harley-Davidson (HOG) announced a significant commitment to community enhancement through the Harley-Davidson Foundation's $350,000 investment. This funding includes $250,000 for improvements and $100,000 for maintenance of Highland Park in Milwaukee, which will be renamed Harley Park. Additionally, the company has broken ground on the Davidson Park project at its Juneau Avenue headquarters, aiming to develop a communal green space by 2024. Company's Chairman and CEO, Jochen Zeitz, emphasized Harley-Davidson's longstanding ties to Milwaukee and its commitment to investing over $30 million in community projects since 2020. Both parks will collectively be known as Harley-Davidson Parks.
Harley-Davidson, Inc. (NYSE: HOG) announced the departure of Chief Financial Officer Gina Goetter, effective April 28, 2023, as she pursues an opportunity outside the company. David Viney, currently Vice President - Treasurer, will assume the role of Interim Chief Financial Officer. Harley-Davidson's Chairman and CEO Jochen Zeitz expressed gratitude for Goetter's contributions since her joining in 2020 and noted that a formal search for a new CFO is underway. This transition in leadership occurs as Harley-Davidson continues to aim for innovation and growth within the motorcycle industry.
Harley-Davidson, Inc. (NYSE: HOG) will announce its first quarter 2023 financial results on April 27, 2023, prior to market opening. A live audio webcast is scheduled from 8-9 a.m. CDT, where senior management will discuss financial outcomes, business developments, and future outlook. Participants are encouraged to log in 10 minutes early, with a slide presentation available 30 minutes before the call. A replay will be accessible two hours post-event. Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services.
The Harley-Davidson Board of Directors has announced a cash dividend of $0.165 per share for the first quarter of 2023. This dividend will be payable on March 20, 2023, to shareholders recorded as of March 3, 2023. This decision underscores Harley-Davidson's commitment to returning value to its shareholders, reinforcing investor confidence in the company's financial health.
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