Overview
- Harley-Davidson reported EPS of $3.10 versus a $1.46 consensus and sales of $1.074 billion, up 23% year over year.
- Shares fell roughly 9% in premarket trading after the release.
- The Motorcycles and Related Products gross margin declined 370 basis points to 26.4% due to new or higher tariffs, unfavorable operating leverage, and currency effects.
- Global retail sales fell 6% from a year ago even as motorcycle shipments increased 33%, with motorcycles revenue up 34% and parts and accessories down 4%.
- Management kept full-year guidance withdrawn, widened LiveWire’s projected operating loss to $72–$77 million, and announced a $200 million accelerated share repurchase after completing an HDFS deal that unlocked over $1.2 billion in discretionary cash.