Core Viewpoint - Harley-Davidson has announced a cash dividend increase of 4.3% for Q1 2025, reflecting its financial strength and commitment to shareholder value, despite recent stock underperformance [1][2]. Financial Performance - The dividend is set at 18 cents per share, with a forward yield of 2.8%, payable on March 14, 2025, to shareholders of record as of February 28, 2025 [1]. - Harley-Davidson shares have declined by 30.7% over the past 12 months, underperforming the Zacks Auto-Tires-Trucks sector's growth of 11.3% and the Zacks Automotive – Domestic industry's return of 25.9% [2][3]. - The S&P 500 index has increased by 23.2% during the same period [2]. Market Position and Growth - The company is enhancing its market position through an innovative product portfolio, with a nearly 5% growth in the U.S. driven by the successful launch of the '24 Street Glide and Road Glide models, pushing market share to nearly 75% [6]. - Six new cruisers and updates to existing models are improving Harley-Davidson's competitive edge [7]. - Strategic marketing efforts and collaborations are increasing brand visibility and consumer engagement [8]. - The LiveWire unit, focusing on e-bikes, has seen a 46% year-over-year increase in global retail sales, maintaining a 65% market share in the U.S. electric motorcycle segment [9]. Valuation - Harley-Davidson shares are currently considered undervalued, with a Value Score of A, trading at a forward price/sales ratio of 0.79x compared to the sector's 1.48x [10]. 2025 Outlook - The company anticipates flat retail sales for 2025, with a 5% decline in wholesale shipments as it manages dealer inventory [13]. - Global inventory levels are expected to decrease by over 10% by the end of 2025, with a 30% reduction in the first half [13]. - Revenue projections for Harley-Davidson Motor Company are expected to be flat to down 5%, while Harley-Davidson Financial Services anticipates a 10% to 15% drop in operating income [14]. - The Zacks Consensus Estimate for 2025 revenues is $4.14 billion, indicating a decline of 0.14% year-over-year, with EPS expected to be $3.44, down 18.1% over the past 30 days [16].

Market Overview - Wall Street is experiencing volatility due to persistent inflation, uncertainty regarding the Federal Reserve's rate-cut trajectory, and concerns over a potential trade war [1] - The auto sector faces additional challenges from potential U.S. tariffs on Canadian and Mexican imports, although these duties were temporarily paused [1] Dividend-Paying Stocks - Dividend-paying stocks are seen as a stable investment option for cautious investors seeking steady income [2] - Several auto stocks, including Harley-Davidson, Magna International, Oshkosh Corp., PACCAR, and Group 1 Automotive, have recently increased their first-quarter 2025 dividends [2] Harley-Davidson - Harley-Davidson raised its quarterly dividend by 4.3% to $0.18 per share, resulting in a dividend yield of 2.80% and a payout ratio of around 20% [3] - The company anticipates flat retail sales for 2025, with wholesale shipments expected to decline by 5% and global inventory projected to drop over 10% [4] - The Zacks Consensus Estimate for Harley-Davidson's 2025 EPS is $3.44, reflecting a decrease of $0.76 over the past 30 days [5] Magna International - Magna International increased its quarterly dividend by 2% to $0.485 per share, translating to a dividend yield of 5% and a payout ratio of around 35% [6] - The company is implementing restructuring and cost-cutting measures due to macroeconomic pressures, leading to a revised 2026 sales outlook [7] - The Zacks Consensus Estimate for Magna's 2025 EPS implies growth of 13% [8] Group 1 Automotive - Group 1 Automotive raised its quarterly dividend by 6.3% to $0.50 per share, resulting in a dividend yield of 0.4% and a sustainable payout ratio of 5% [10] - The company has increased dividends 12 times in the last five years, with an annualized growth rate of 12.5% [10] - The Zacks Consensus Estimate for Group 1's 2025 sales and EPS implies growth of 10% and 4.4%, respectively [12] Oshkosh Corporation - Oshkosh raised its quarterly dividend by 11% to $0.51 per share, yielding 1.90% with a payout ratio of around 16% [14] - The company has a strong balance sheet and is expanding its offerings through acquisitions, although it faces short-term softness in its Access segment [15] - The Zacks Consensus Estimate for Oshkosh's 2025 sales and EPS implies a decline of 2.4% and 6.6%, respectively [17] PACCAR - PACCAR increased its quarterly dividend by 10% to $0.33 per share, resulting in a dividend yield of 1.25% and a payout ratio of around 15% [18][19] - The company is poised for growth due to strong demand for its vehicles and strategic expansion initiatives, despite facing significant capital expenditures [20] - The Zacks Consensus Estimate for PACCAR's 2025 sales implies a 0.5% increase year over year, while EPS estimates suggest a 4.2% decline [21]

Core Insights - Harley-Davidson, Inc. reported a fourth-quarter 2024 adjusted loss of 93 cents per share, which was wider than the Zacks Consensus Estimate of a loss of 68 cents, and a significant decline from earnings of 18 cents per share in the same quarter last year [1] - The company generated consolidated revenues of $688 million, down 35% from the prior-year quarter [1] Segmental Highlights - Revenues from the Motorcycle and Related Products segment fell 47% year-over-year to $420 million, missing the forecast of $463 million due to lower motorcycle shipments [2] - Worldwide motorcycle shipments decreased 15% to 25,700 units, lagging behind the estimate of 27,122 units [2] - Revenues from motorcycle sales were $231 million, down 60% year-over-year, with an operating loss of $214 million, wider than the loss of $44 million in the same quarter of 2023 [2] - Retail motorcycle units sold globally were 25,660, down 14.9% year-over-year, with North America sales decreasing 4% to 15,127 units [3] Financial Performance - Revenues for parts and accessories were down 10% year-over-year to $118 million, but exceeded the estimate of $94.7 million [4] - Revenues from Harley-Davidson Financial Services totaled $257 million, up 4% year-over-year, but missed the forecast of $267.1 million [4] - Operating income for Financial Services fell 20% to $46 million, missing the estimate of $56.1 million [4] LiveWire Segment - Total shipments for LiveWire were 236 units, declining 54% from the year-ago quarter, with revenues down 32% to $10 million [5] - Operating loss for LiveWire narrowed from $35 million to $26 million, which was better than the projected loss of $29 million [5] Financial Position - Selling, general and administrative expenses decreased to $210.5 million from $225.5 million in the year-ago quarter [6] - Cash and cash equivalents were $1.59 billion as of December 31, 2024, up from $1.53 billion a year earlier [6] - Long-term debt decreased to $4.47 million from $4.99 million recorded as of December 31, 2023 [6] 2025 Guidance - For 2025, the company expects revenues from HDMC to remain flat to down 5% year-over-year, with an operating income margin expectation of 7-8% for the motorcycle segment [7] - Operating income for Financial Services is anticipated to fall 10-15% compared to 2024 [7] - Electric motorcycle wholesale units for the LiveWire segment are expected to be in the range of 1,000-1,500, with an anticipated operating loss of $70-$80 million [8] - Capital expenditure projection for the full year is estimated to be in the range of $225-$250 million [8]

Harley-Davidson, Inc. (NYSE:HOG) Q4 2024 Earnings Conference Call February 5, 2025 9:00 AM ET Company Participants Shawn Collins - Director of Investor Relations Jochen Zeitz - Chairman, President and Chief Executive Officer Jonathan Root - Chief Financial Officer Karim Donnez - Chief Executive Officer, LiveWire Conference Call Participants Megan Clapp - Morgan Stanley Joe Altobello - Raymond James James Hardiman - Citi Robin Farley - UBS Fred Wightman - Wolfe Research Alex Perry - Bank of America Joe Nolan ...

Core Insights - Harley-Davidson reported a significant decline in revenue and earnings for the quarter ended December 2024, with revenue of $430.89 million, down 46.6% year-over-year, and an EPS of -$0.93 compared to $0.18 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $481.81 million by 10.57%, while the EPS also missed the consensus estimate of -$0.68 by 36.76% [1] Financial Performance - Total worldwide retail sales of Harley-Davidson motorcycles were 25,660, slightly below the average estimate of 26,340 [4] - Total motorcycle shipments were 14,010, compared to the estimated 15,331 [4] - Revenue from motorcycles and related products was $420.49 million, down 46.9% year-over-year, and below the average estimate of $481.81 million [4] - Revenue from motorcycles was $231.47 million, a decline of 60.3% compared to the previous year, and below the estimate of $286.10 million [4] - Revenue from financial services was $256.72 million, representing a 4.3% increase year-over-year, and slightly above the estimate of $254.39 million [4] Market Performance - Harley-Davidson shares have returned -9% over the past month, contrasting with the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Q4 and Full Year 2024 Results Wednesday, February 5, 2025 Q4 AND FULL YEAR 2024 RESULTS – EARNINGS CALL Call Participants 2 ▪ Jochen Zeitz, Chairman, President and CEO ▪ Jonathan Root, Chief Financial Officer and President, Commercial ▪ Karim Donnez, CEO – LiveWire (NYSE: LVWR) ▪ Shawn Collins, Director Investor Relations FULL YEAR 2024 PERFORMANCE HEADLINES 3 • Delivered diluted EPS of $3.44 • HDMC operating income of $278 million for an operating margin of 6.7% • HDMC global motorcycle shipments of 148,86 ...

分组1 - Harley-Davidson reported a quarterly loss of $0.93 per share, missing the Zacks Consensus Estimate of a loss of $0.68, compared to earnings of $0.18 per share a year ago, representing an earnings surprise of -36.76% [1] - The company posted revenues of $430.89 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 10.57%, and down from $807.01 million year-over-year [2] - Harley-Davidson shares have declined approximately 11% since the beginning of the year, while the S&P 500 has gained 2.7% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.68 on revenues of $1.46 billion, and for the current fiscal year, it is $3.96 on revenues of $4.26 billion [7] - The Zacks Industry Rank for Automotive - Domestic is currently in the bottom 26% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Core Insights - Harley-Davidson reported a significant decline in financial performance for the fourth quarter and full year 2024, with a consolidated revenue drop of 35% in Q4 and 11% for the full year compared to 2023 [4][5][6] - The company faced challenges due to high-interest rates affecting consumer confidence and a cyclical downturn in discretionary products, but it aims to leverage its Hardwire strategy to strengthen its market position [2][4] Financial Performance - Fourth Quarter 2024 Results: - Revenue: $688 million, down 35% from $1,053 million in Q4 2023 [4] - Operating Loss: $193 million compared to a loss of $21 million in the prior year [5] - Net Income Attributable to HDI: Loss of $117 million versus a profit of $26 million in Q4 2023 [4] - Diluted EPS: Loss of $0.93 compared to earnings of $0.18 in Q4 2023 [4] - Full Year 2024 Results: - Revenue: $5.187 billion, down 11% from $5.836 billion in 2023 [4] - Operating Income: $417 million, down 47% from $779 million in 2023 [4] - Net Income Attributable to HDI: $455 million, down 36% from $707 million in 2023 [4] - Diluted EPS: $3.44, down 29% from $4.87 in 2023 [4] Segment Performance - Harley-Davidson Motor Company (HDMC): - Q4 Revenue: $420 million, down 47% from $792 million in Q4 2023 [8] - Global Motorcycle Shipments: 14,010 units, down 53% from 29,544 units in Q4 2023 [8] - Full Year Revenue: $4.122 billion, down 15% from $4.845 billion in 2023 [8] - Operating Income: $278 million, down 58% from $661 million in 2023 [8] - Harley-Davidson Financial Services (HDFS): - Q4 Revenue: $257 million, up 4% from $246 million in Q4 2023 [14] - Full Year Revenue: $1.039 billion, up 9% from $954 million in 2023 [15] - Operating Income: $248 million, up 6% from $235 million in 2023 [15] - LiveWire: - Q4 Revenue: $10 million, down 32% from $15 million in Q4 2023 [16] - Full Year Revenue: $26 million, down 31% from $38 million in 2023 [17] - Electric Motorcycle Shipments: 612 units, down 7% from 660 units in 2023 [17] Retail Sales - Global retail sales of new motorcycles decreased by 15% in Q4 2024 compared to Q4 2023, with North America down 13% and EMEA down 7% [12][13] - For the full year 2024, global retail sales were down 7%, with North America declining by 4% [13] Cash Flow and Investments - The company generated $1.1 billion in cash from operating activities for the full year 2024 [19] - Capital investments for 2025 are projected to be between $225 million and $250 million [6] Market Position - Harley-Davidson's market share in the U.S. Touring segment reached 74.5% in 2024, driven by the launch of new models [2] - The company aims to capitalize on any potential recovery in consumer spending as it navigates current market challenges [2]

2025 Financial Outlook For the full year 2025, the Company expects: FOR IMMEDIATE RELEASE Harley-Davidson Delivers Fourth Quarter and Full Year Financial Results and 2025 Outlook MILWAUKEE (February 5, 2025) – Harley-Davidson, Inc. ("Harley-Davidson," "HDI," or the "Company") (NYSE: HOG) today reported fourth quarter and full year 2024 results and provided 2025 Outlook. "In 2024, we saw our performance being significantly impacted by the continued cyclical headwinds for discretionary products, including the ...

Core Insights - Harley-Davidson is well-positioned to maintain its earnings-beat streak in the upcoming report, with a history of exceeding earnings estimates, particularly in the last two quarters, averaging a surprise of 12.48% [1][3] Earnings Performance - In the last reported quarter, Harley-Davidson achieved earnings of $0.91 per share, surpassing the Zacks Consensus Estimate of $0.82 per share, resulting in a surprise of 10.98% [2] - In the previous quarter, the company was expected to report earnings of $1.43 per share but delivered $1.63 per share, yielding a surprise of 13.99% [2] Earnings Estimates and Predictions - Estimates for Harley-Davidson have been trending higher, influenced by its history of earnings surprises, and the stock currently has a positive Zacks Earnings ESP of +5.43%, indicating bullish sentiment among analysts regarding its near-term earnings potential [3][6] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a strong likelihood of another earnings beat, with the next earnings report expected on February 5, 2025 [6] Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise, meaning that out of 10 such stocks, approximately seven could beat consensus estimates [4]