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Harley-Davidson Delivers Second Quarter Financial Results

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MILWAUKEE, WI – July 28, 2022 – (Motor Sports NewsWire) – Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE: HOG) today reported second quarter results.

“Reaffirming our guidance for the year, despite the production suspension, demonstrates the effectiveness of our Hardwire strategy and the power of our brand.” said Jochen Zeitz, Chairman, CEO and President, Harley-Davidson. “Now with the suspension being behind us, we are fully focused on mitigating the impacts of the volume loss with the ambition to deliver on our Hardwire II goals, in year two of our five-year strategy.”

Second Quarter 2022 Summary of Results

  • Global motorcycle shipments were adversely impacted (down 15 percent in Q2) by the approximately two-week production suspension caused by a regulatory compliance matter at a third-party supplier
  • HDMC Revenue down 5 percent with global pricing and growth within Apparel offsetting much of the negative impact from the temporary production suspension
  • HDMC Operating Income margin of 15.1 percent, was up 1.2 points versus last year; pricing, lower operating expense and lower EU tariffs offset the impact of the suspension
  • HDFS Operating Income decline of 9 percent was driven by the continued normalization of credit losses in-line with expectations
  • GAAP diluted EPS of $1.46 was up 10 percent vs last year; Harley-Davidson repurchased $64 million of shares (or 1.7 million shares) on a discretionary basis in Q2
  • The Company reaffirms its full-year 2022 outlook
  • Merger transaction between LiveWire and AEA-Bridges Impact Corporation now expected to list at the NYSE in late September

Second Quarter 2022 Results

Harley-Davidson, Inc. Consolidated Financial Results 

$ in millions (except EPS)

2nd quarter







(4 %)

Operating Income



(1 %)

Net Income



5 %

GAAP Diluted EPS



10 %

Consolidated revenue was down 4 percent in the second quarter versus Q2 2021 driven primarily by HDMC revenue down 5 percent. The revenue decline was driven by the production suspension in the second half of May. Consolidated operating income decline of 1 percent reflects 3 percent growth at HDMC and a decline of 9 percent at HDFS due to an expected higher provision for credit losses as the credit environment normalizes.

HDMC Results: Motorcycles and Related Products

$ in millions

2nd quarter




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