Logotype for Harley-Davidson Inc

Harley-Davidson (HOG) investor relations material

Harley-Davidson Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Harley-Davidson Inc
Q2 2025 earnings summary30 Jul, 2025

Executive summary

  • Announced a strategic HDFS transaction with KKR and PIMCO, unlocking $1.25B in cash, selling a minority equity stake at 1.75x book value, and shifting HDFS to a capital-light model.

  • Q2 2025 revenue declined 19% year-over-year to $1.31B, with net income down 51% to $108M and EPS at $0.88, reflecting lower shipments and soft demand.

  • Global motorcycle shipments fell 28% and retail sales dropped 15% year-over-year; dealer inventories reduced by 28%.

  • Announced new efficiency program leveraging technology and AI to drive cost savings and productivity.

  • Confirmed launch of a new small displacement motorcycle targeting a sub-$6,000 entry price for growth in new segments.

Financial highlights

  • Q2 consolidated operating income was $112M, down 53% year-over-year; HDMC revenue down 23% to $1.04B; HDFS revenue down 2% to $257M; LiveWire revenue down 7% to $6M.

  • Q2 net income was $108M, down 51%; diluted EPS was $0.88, down 46%; six-month net income was $236.5M, down 47%.

  • HDMC Q2 operating income margin was 5.9%, down from 14.7%; HDFS operating income margin was 27.1%; consolidated margin was 8.6%.

  • LiveWire Q2 operating loss improved to $19M from $28M; full-year operating loss expected between $59M–$69M.

  • Cash and cash equivalents at quarter-end were $1.6B; operating cash flow for H1 2025 was $509M.

Outlook and guidance

  • Full-year 2025 financial outlook for HDMC and HDI remains withdrawn due to tariff and macroeconomic uncertainty.

  • HDFS full-year operating income expected at $525M–$550M, including a $275M–$300M benefit from the transaction.

  • LiveWire segment expected to post a $59M–$69M operating loss and use $50M–$60M in cash for 2025.

  • Plan to purchase $500M in shares in H2 2025 and reduce debt by $450M; up to $300M to be invested in growth opportunities.

  • Expect positive retail sales in North America for H2, supported by improving trends and easier comps.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Harley-Davidson earnings date

Logotype for Harley-Davidson Inc
Q3 20254 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Harley-Davidson earnings date

Logotype for Harley-Davidson Inc
Q3 20254 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

The notorious American motorcycle manufacturer founded in 1903

Harley-Davidson is an American motorcycle manufacturer founded in 1903. The company is best known for its iconic motorcycles, which have a distinctive look and sound that has made them a symbol of American culture. The business model is centered around producing high-quality motorcycles and related accessories and merchandise, with a strong focus on branding and marketing, which has helped to establish it as a leader in the motorcycle industry.

In addition to its motorcycles, Harley-Davidson also sells a wide range of branded merchandise, including clothing, accessories, and collectibles. This helps to create additional revenue streams for the company and helps to strengthen its brand.

Cult status

One of the key factors that make Harley-Davidson special is its loyal fan base. The company has built a community of enthusiasts who are passionate about the brand and its products. This has helped to create a sense of camaraderie among Harley riders, which has contributed to the company's success.

Listed peers to Harley-Davidson are:

  • Polaris. A manufacturer of power sports vehicles, including motorcycles, snowmobiles, and off-road vehicles.

  • BMW Group. Providing premium automobile and motorcycle products and financing services.

  • Eicher Motors. based in Gurgaon, India. It manufactures and sells motorcycles and commercial vehicles in India, Bangladesh, Kenya, and Uganda.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage