Harley-Davidson, Inc. manufactures and sells motorcycles in the United States and internationally. It operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, Grand American touring, standard, sportbike, adventure touring, and dual sport models, along with parts, accessories, and apparel, and licenses its trademarks and related services. LiveWire sells electric motorcycles, balance bikes for kids, electric bikes, parts and accessories, apparel, and related parts and services. Harley-Davidson Financial Services provides wholesale financing, such as floorplan and open-account financing, and retail financing, such as installment lending for new and used Harley-Davidson motorcycles, as well as point-of-sale insurance and voluntary protection products, and licenses third-party financial institutions that issue Harley-Davidson-branded credit cards. The company was founded in 1903 and is based in Milwaukee, Wisconsin.
Harley-Davidson Q2 Revenue Falls 5.9% to $1.23 Billion, Beats Estimates
Harley-Davidson reported second-quarter revenues of $1.23 billion, down 5.9% year on year but exceeding analysts' expectations by 5.4%, as the 12 consumer discretionary leisure products stocks tracked by the publisher beat consensus revenue estimates by 9.1% as a group. The motorcycle maker also beat analysts' EPS estimates, though it delivered the slowest revenue growth in the group, and its stock is down 9.9% since reporting, trading at $24.88. Among peers, Smith & Wesson posted the best quarter with revenues of $112.6 million, up 32.3% year on year and 14.1% above expectations, sending its stock up 14.6% to $14.06. Brunswick reported revenues of $1.56 billion, up 7.7% and 2.4% above estimates, but delivered the weakest guidance update among its peers, with its stock down 17.8% at $66.16. Clarus reported revenues of $56.16 million, up 1.6% and 7.9% above expectations, with its stock up 3.9% at $3.50, while Malibu Boats reported revenues of $295.5 million, up 42.7% and 12% above expectations, though its stock is down 13.1% at $23.14.
Sonic Automotive Reports Record Q2 Revenue and Gross Profit, Raises Full-Year New Vehicle GPU Guidance
Sonic Automotive reported record second-quarter total revenues of $3.9 billion, an 8% increase year over year, and an all-time quarterly record gross profit of $616.2 million, up 2%. GAAP earnings per diluted share were $1.79, while adjusted EPS came in at $1.82. The company raised its full-year new vehicle gross profit per unit guidance to a range of $2,850 to $3,000, up from the prior $2,700 to $3,000, citing better-than-expected first-half performance. EchoPark segment revenue grew 15% to $582.9 million, with retail used unit volume surging 17% to 19,600 units, significantly outpacing the broader industry. Powersports segment revenue jumped 53% to a second-quarter record $73.5 million, and adjusted EBITDA in that segment rose 145% to $4.9 million, reflecting the integration of recently acquired Harley-Davidson dealerships. The Board approved a quarterly cash dividend of $0.41 per share, payable on October 15, 2026, to shareholders of record as of September 15, 2026.
SAH · Capital · Positive Record Q2 revenue and gross profit, raised full-year GPU guidance, and increased dividend.
HOG · Demand · Positive EchoPark and Powersports segments show strong growth, with Powersports revenue up 53% partly due to acquired Harley-Davidson dealerships.
Harley-Davidson Could Be 5% Undervalued After Earnings and Buyback Update
Harley-Davidson may be modestly undervalued following its second quarter 2026 earnings and an active share repurchase program. The stock trades at $25.49 against a widely followed fair value estimate of $26.91, suggesting about 5.3% upside. A new partnership in Harley-Davidson Financial Services unlocks $1.25 billion in cash, reduces leverage, and frees up $300 million for growth investments, which can support earnings per share and future revenue. However, a discounted cash flow model from Simply Wall St estimates fair value at just $6.57, highlighting a wide gap in expectations. The company also faces risks from weak global motorcycle demand and slower electric motorcycle adoption.
Harley-Davidson Q2 Earnings Beat Estimates on HDMC Growth
Harley-Davidson reported second-quarter 2026 earnings of 75 cents per share, beating the Zacks Consensus Estimate of 62 cents by 21 percent. Earnings declined 15 percent from 88 cents a year ago. Harley-Davidson Motor Company revenues increased 6 percent year over year to 1.10 billion dollars but missed the Zacks Consensus Estimate of 1.12 billion dollars. Consolidated revenues fell 6 percent year over year to 1.23 billion dollars as a sharp decline at Harley-Davidson Financial Services offset growth at the motorcycle business. The company raised its full-year projection for global motorcycle retail sales and wholesale shipments to a range of 133,500 to 138,500 units from the previous estimate of 130,000 to 135,000 units, and now expects HDMC operating income between 10 million and 50 million dollars compared with the earlier expected range of a 40 million dollar loss to a 10 million dollar profit.
Harley-Davidson Misses Revenue Target But Raises Sales Outlook
Harley-Davidson reported second-quarter revenue of $1.2 billion, missing Wall Street estimates of $1.3 billion, but raised its full-year global motorcycle sales forecast to as many as 138,500 units, up from a previous top of 135,000. Sales rose 3% in the quarter compared to the same period last year, as price cuts attracted more budget-conscious customers. Chief Executive Officer Artie Starrs plans to introduce a lower-priced model called the Sprint, a strategy that has divided analysts. Loop Capital Markets upgraded the stock to buy, citing more affordable models, while S&P Global Ratings cut Harley's debt to junk status, warning that discounting could pressure profitability. Shares fell as much as 2.2% in premarket trading.
Harley-Davidson Raises Full-Year Guidance After Second Quarter Results
Harley-Davidson raised its full-year 2026 guidance following second quarter results that showed North American retail motorcycle sales up 3 percent to 29,751 units. Global dealer inventory of new motorcycles ended the quarter down 17 percent from a year earlier, while HDMC global motorcycle shipments rose 9 percent to 39,209 units. Net income attributable to HDI fell 26 percent to $80 million, primarily due to the HDFS shift to a capital-light model, partially offset by HDMC improvement. HDMC revenue increased 6 percent to $1.1 billion, and its adjusted EBITDA margin improved to 10.4 percent from 9.3 percent a year ago. The company now expects full-year HDMC global retail sales and wholesale shipments of 133,500 to 138,500 units, up from a prior range of 130,000 to 135,000, and HDMC operating income of $10 million to $50 million, compared with a previous range of a $40 million loss to a $10 million profit.
Harley-Davidson Faces Demand and Profitability Headwinds After Q1
Harley-Davidson's stock has returned 19.5% over the past six months, outpacing the S&P 500 by 11% and reaching $24.78 per share, but analysts at StockStory see reasons to avoid the stock. Motorcycles sold fell to 37,300 in the latest quarter, with an average two-year decline of 14.6% year-on-year, signaling weak demand and potential market saturation. The company's free cash flow margin averaged 10.6% over the last two years, limiting reinvestment and shareholder returns, while its return on invested capital has declined significantly, suggesting few profitable growth opportunities. At a forward price-to-earnings ratio of 29.5, the stock is viewed as fully priced with better opportunities elsewhere.
United States