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Sep 30, 2024
Harley-Davidson Q3 2024 Earnings Report
Harley-Davidson's Q3 2024 results were impacted by macroeconomic pressures, mitigated by strategic efforts and a focus on setting up for a solid 2025.
Key Takeaways
Harley-Davidson reported a decrease in consolidated revenue and operating income for Q3 2024, driven by lower motorcycle shipments and global retail sales. While HDFS saw revenue and operating income growth, HDMC experienced declines in revenue and gross margin. The company is lowering its full-year 2024 financial outlook.
Diluted EPS was reported at $0.91.
Consolidated operating income decreased by 49% year-over-year to $106 million.
Global retail sales decreased by 13% compared to the prior year.
HDMC gross margin was 30.1%.
Revenue by Segment
Forward Guidance
For the full year 2024, the company now expects HDMC revenue to be down 14 to 16 percent compared to 2023, HDMC operating income margin between 7.5 and 8.5 percent, HDFS operating income up 5 to 10 percent compared to 2023, and LiveWire electric motorcycle unit sales of 600 to 1,000.
Positive Outlook
- Touring launch well-received by customers and dealers.
- Working to set the Company up for a solid 2025.
- Optimistic about ability to make sound progress in the new year.
- Expecting further interest rate reductions.
- Improved consumer confidence will provide the industry with a needed tailwind.
Challenges Ahead
- High interest rates continue to put pressure on the industry.
- Macroeconomic uncertainty continues to impact the industry.
- Political uncertainty continues to impact the industry.
- International markets have performed weaker than expected.
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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