Harley-Davidson's first quarter 2024 results showed a mixed performance. While North America retail sales increased by 6%, driven by new Touring motorcycles, overall revenue decreased by 3% due to lower motorcycle shipments. Operating income also declined by 29% due to lower HDMC and HDFS performance, and an operating loss in the LiveWire segment. The company reaffirms its full-year 2024 financial outlook.
Diluted EPS was reported at $1.72.
HDMC operating income margin was 16.2%.
North America motorcycle retail sales increased by 6%, driven by new Touring motorcycles.
HDMC revenue decreased by 5%, primarily due to planned decrease in motorcycle shipments.
For the full year 2024, the Company reaffirms the following guidance and continues to expect: HDMC: revenue flat to down 9 percent and operating income margin of 12.6 to 13.6 percent; HDFS: operating income flat to up 5 percent; LiveWire: electric motorcycle unit sales of 1,000 to 1,500. For the full year 2024, the Company is revising its LiveWire operating loss guidance and now expects: LiveWire: improved operating loss of $105 to $115 million, from previous guidance of an operating loss of $115 to $125 million
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