Harley-Davidson reported a challenging first quarter in 2025, with significant decreases in consolidated revenue, operating income, and net income. This was primarily driven by a large decline in the HDMC segment, reflecting lower wholesale shipments and softer than anticipated U.S. retail sales, although the HDFS segment saw improved operating income.
Consolidated revenue decreased by 23% to $1.329 billion.
Net income attributable to HDI fell by 43% to $133 million.
Diluted EPS declined by 38% to $1.07.
Worldwide retail motorcycle sales were down 21% to 31,010 units.
Due to the uncertain global tariff situation and macroeconomic conditions, the full year 2025 financial outlook has been withdrawn.
Visualization of income flow from segment revenue to net income
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