MILWAUKEE, WI – October 24, 2024 – (Motor Sports NewsWire) – Harley-Davidson, Inc. (“Harley-Davidson,” “HDI,” or the “Company”) (NYSE: HOG) today reported third quarter 2024 results.
“We have worked diligently through the quarter to mitigate the impact of high interest rates, and macroeconomic and political uncertainty, that continue to put pressure on our industry and customers, especially in our core markets,” said Jochen Zeitz, Chairman, President and CEO, Harley-Davidson. “We are very pleased with the reception of our touring launch with customers and dealers alike and are working hard to set the Company up for a solid 2025. We are optimistic about our ability to make sound progress in the new year, and we are expecting further interest rate reductions and improved consumer confidence will provide the industry with a needed tailwind.”
Third Quarter 2024 Highlights and Related Results
- Delivered diluted EPS of $0.91
- Consolidated operating income of $106 million, down 49 percent in Q3 year-over-year
- North American retail sales down 10 percent in Q3 versus prior year
- Global retail sales down 13 percent in Q3 year-over-year, where international markets have performed weaker than expected
- HDMC gross margin of 30.1 percent in Q3
- HDFS operating income up 29 percent in Q3 year-over-year, while revenue up 10 percent
- Company lowers its full year 2024 financial outlook to reflect the current environment
Year-to-date 2024 Highlights and Related Results
- Delivered diluted EPS of $4.27
- Consolidated operating income of $610 million, down 24 percent year-over-year
- North American retail sales down 1.7 percent versus prior year
- Global retail sales down 5 percent year-over-year
- HDMC gross margin of 31.3 percent
- HDFS operating income up 14 percent year-over-year, while revenue up 11 percent
- U.S. Touring market share of 75 percent, an increase of 4 share points year-over-year1
|
1 |
Source: U.S. 601+cc Street Legal Market Share for 2024 year-to-date from Motorcycle Industry Council (MIC). |
Third Quarter 2024 Results
Harley-Davidson, Inc. Consolidated Financial Results
|
$ in millions (except EPS) |
3rd quarter |
||
|
2024 |
2023 |
Change |
|
|
Revenue |
$1,151 |
$1,549 |
-26 % |
|
Operating Income |
$106 |
$209 |
-49 % |
|
Net Income Attributable to HDI |
$119 |
$199 |
-40 % |
|
Diluted EPS |
$0.91 |
$1.38 |
-34 % |
Consolidated revenue in the third quarter was down 26 percent, driven primarily by an HDMC revenue…
Click Here to Read the Full Original Article at Motor Sports NewsWire…