Harley-Davidson (NYSE:HOG) Announces Earnings Results, Misses Expectations By $0.12 EPS
by Jessica Moore · The Cerbat GemHarley-Davidson (NYSE:HOG – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12), FiscalAI reports. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.01 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The company’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 EPS.
Here are the key takeaways from Harley-Davidson’s conference call:
- Q1 retail momentum and healthier dealer inventory — North America new motorcycle retail was up 14% (U.S. +16%), global retail sales were +8%, and global dealer inventory fell ~22% YoY with ~2/3 of North America inventory now 2026 model year, positioning dealers better for the riding season.
- Consolidated results weakened: consolidated revenue declined 12%, operating income dropped to $23 million from $160 million a year ago, and EPS was $0.22 versus $1.07, driven in part by a 54% decline in HDFS revenue after the sale/forward-flow of loan assets.
- Tariff pressure remains a near-term headwind — Q1 tariff costs were $45 million and the company now expects $75M–$90M of new/increased tariffs for full-year 2026, though management expects the quarterly cadence to ease and noted some recent exemptions.
- “Back to the Bricks” strategic plan centers on a rider‑centric portfolio and dealer economics, including the return of the Sportster (2027), the Sprint (H2 2026), a push to grow Parts & Accessories, at least $150M of annual run‑rate cost savings, and a target of >$350M EBITDA in 2027.
- LiveWire showed revenue growth (+87%) but remains loss-making (Q1 operating loss $18M; 2026 guide $70M–$80M); management says remaining capital commitments are funded and further funding from Harley-Davidson is not planned, leaving the segment’s longer‑term cash impact unclear.
Harley-Davidson Trading Down 0.9%
Shares of Harley-Davidson stock traded down $0.21 on Thursday, hitting $23.64. 3,303,146 shares of the company’s stock traded hands, compared to its average volume of 3,571,635. The company has a fifty day moving average of $20.56 and a two-hundred day moving average of $21.82. Harley-Davidson has a one year low of $17.09 and a one year high of $31.25. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 13.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.83.
Harley-Davidson Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.2%. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 2nd. Harley-Davidson’s payout ratio is currently 42.61%.
Insider Buying and Selling
In other Harley-Davidson news, Director James D. Farley, Jr. sold 6,454 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the transaction, the director directly owned 16,205 shares of the company’s stock, valued at approximately $303,195.55. The trade was a 28.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rafeh Masood acquired 2,775 shares of Harley-Davidson stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $18.00 per share, with a total value of $49,950.00. Following the transaction, the director owned 7,480 shares in the company, valued at approximately $134,640. This trade represents a 58.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.97% of the company’s stock.
Institutional Investors Weigh In On Harley-Davidson
Several hedge funds and other institutional investors have recently bought and sold shares of HOG. Virtu Financial LLC bought a new position in shares of Harley-Davidson during the 4th quarter worth about $212,000. Invesco Ltd. increased its position in Harley-Davidson by 52.1% in the 4th quarter. Invesco Ltd. now owns 703,826 shares of the company’s stock valued at $14,421,000 after buying an additional 241,045 shares in the last quarter. Empowered Funds LLC increased its position in Harley-Davidson by 659.0% in the 4th quarter. Empowered Funds LLC now owns 115,288 shares of the company’s stock valued at $2,362,000 after buying an additional 100,098 shares in the last quarter. XTX Topco Ltd acquired a new position in Harley-Davidson during the 4th quarter worth approximately $3,500,000. Finally, Voloridge Investment Management LLC boosted its holdings in Harley-Davidson by 48.9% in the fourth quarter. Voloridge Investment Management LLC now owns 1,161,724 shares of the company’s stock worth $23,804,000 after acquiring an additional 381,769 shares in the last quarter. 85.10% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Zacks Research upgraded Harley-Davidson from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. DA Davidson dropped their price objective on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Citigroup lifted their target price on shares of Harley-Davidson from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley restated an “underweight” rating and issued a $12.00 price target on shares of Harley-Davidson in a research report on Tuesday, February 17th. Finally, UBS Group dropped their price target on shares of Harley-Davidson from $27.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.11.
Check Out Our Latest Stock Analysis on Harley-Davidson
Harley-Davidson Company Profile
Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.
In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.