Harley-Davidson's third quarter 2025 results showed a substantial increase in revenue and net income, primarily driven by the transformative HDFS transaction. While global retail motorcycle sales experienced a decline, the company's financial services segment saw a significant boost in operating income due to the strategic partnership with KKR and PIMCO.
Consolidated revenue increased by 17% to $1.341 billion, largely due to a 23% revenue increase at HDMC.
Net income attributable to HDI surged by 217% to $377 million, and diluted EPS rose by 241% to $3.10, primarily due to the HDFS transaction.
The HDFS transaction with KKR and PIMCO unlocked over $1.2 billion in discretionary cash and significantly improved HDFS operating income by 472% to $439 million.
Global retail motorcycle sales were down 6% year-over-year, reflecting soft demand due to unfavorable consumer confidence, high interest rates, and inflation concerns.
Harley-Davidson continues to withhold its full-year HDMC 2025 financial outlook due to uncertain global tariff situations and macroeconomic conditions. However, LiveWire's operating loss guidance has been updated.
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