Harley-Davidson(HOG) - 2024 Q1 - Quarterly Results

Financial Performance - Consolidated revenue for Q1 2024 was $1,730 million, down 3$1,789 million in Q1 2023[4] - Operating income decreased by 29% to $263 million, compared to$370 million in the prior year[5] - Net income attributable to Harley-Davidson was $235 million, a decline of 23$304 million in Q1 2023[4] - Diluted EPS for Q1 2024 was $1.72, down 16$2.04 in the same quarter last year[4] - HDMC revenue for Q1 2024 was $1,476,106, a decrease of 5.2$1,557,829 in Q1 2023[25] - Gross profit for Q1 2024 was $461,070, down 17.2$557,026 in Q1 2023[25] - Operating income from HDMC decreased to $238,445 in Q1 2024, compared to$335,736 in Q1 2023, reflecting a decline of 29%[25] - Net income attributable to Harley-Davidson, Inc. for Q1 2024 was $234,941, down 22.6$304,090 in Q1 2023[25] - LiveWire revenue decreased to $4,704 in Q1 2024 from$7,762 in Q1 2023, resulting in an operating loss of $29,241[25] - HDFS revenue increased to$248,797 in Q1 2024 from $223,095 in Q1 2023, with operating income of$53,875[25] - The provision for credit losses in HDFS for Q1 2024 was $61,010, compared to$52,364 in Q1 2023[37] - Cash and cash equivalents at the end of Q1 2024 were $1,464,614, down from$1,561,200 at the end of Q1 2023[29] - The company reported a cash dividend of $0.1725 per share in Q1 2024, an increase from$0.1650 in Q1 2023[25] Sales Performance - North America motorcycle retail sales increased by 6%, driven by new Touring motorcycles introduced at the end of January[6] - Global motorcycle shipments decreased by 7% to 57.7 thousand units, with revenue down 5% to $1,476 million[7] - HDMC U.S. motorcycle shipments were 41,577 in Q1 2024, a slight decrease from 42,588 in Q1 2023[33] - Total worldwide retail sales for Q1 2024 were$39.405 billion, a slight decrease of 0.05% compared to $39.425 billion in Q1 2023[39] - North America retail sales increased to$27.486 billion in Q1 2024, up 5.63% from $26.021 billion in Q1 2023[39] - EMEA retail sales decreased to$5.264 billion in Q1 2024, down 11.03% from $5.917 billion in Q1 2023[39] - Asia Pacific retail sales fell to$6.034 billion in Q1 2024, a decline of 12.31% compared to $6.881 billion in Q1 2023[39] - Latin America retail sales increased slightly to$621 million in Q1 2024, up 2.48% from $606 million in Q1 2023[39] LiveWire Performance - LiveWire electric motorcycle unit sales increased by 86$5 million[12] - For the full year 2024, the company revised its LiveWire operating loss guidance to an improved range of $105 to$115 million[14]