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Jun 30, 2023
Harley-Davidson Q2 2023 Earnings Report
Harley-Davidson's Q2 2023 financial performance reflected progress in its Hardwire strategy amidst macroeconomic challenges, with retail growth and a strong increase in gross margin despite production suspensions impacting motorcycle shipments.
Key Takeaways
Harley-Davidson reported a 2% decrease in consolidated revenue for Q2 2023, driven by a decline in HDMC revenue, partially offset by growth in HDFS revenue. Diluted EPS was $1.22. The company showed retail growth and a strong increase in gross margin, despite production suspensions. Full year 2023 outlook was revised.
HDMC Gross Margin increased by 400 basis points to 34.8%.
HDMC Revenue decreased by 4% due to a 10% decrease in wholesale shipments caused by an unplanned production suspension.
HDFS Revenue increased by 19% due to higher interest income and increased investment income.
Diluted EPS was reported at $1.22.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2023, the Company is revising its HDMC guidance and its LiveWire unit sales guidance and now expects: HDMC: revenue growth of flat to 3% and operating income margin of 13.9 to 14.3%. LiveWire: motorcycle unit sales of 600–1,000. For the full year 2023, the Company reaffirms the following guidance and continues to expect: HDFS: operating income decline of 20 to 25%. LiveWire: operating loss of $115 to $125 million. Harley-Davidson, Inc.: capital investments of $225 to $250 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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