Harley-Davidson (NYSE:HOG) Announces Quarterly Earnings Results

Harley-Davidson (NYSE:HOG) issued its earnings results on Thursday. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10, FiscalAI reports. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS.

Here are the key takeaways from Harley-Davidson’s conference call:

• Harley-Davidson said Q2 showed early progress under its “Back to the Bricks” turnaround plan, with North America retail up 3% for the quarter and U.S. market share holding at 32% in the 601cc+ market.
• The company highlighted a much healthier dealer network, saying dealer inventory was down 17% year over year and that 85%+ of North American dealer stock was current-model-year product. Management expects domestic dealer profitability to double in 2026.
• New product launches are gaining traction, with management citing strong sell-through and pricing for the Super Glide and enthusiastic early reception for Deadwood. Harley also pointed to positive dealer and rider response as validation of its product direction.
• Harley raised full-year 2026 guidance, lifting expected HDMC retail and wholesale units to 133,500-138,500 and increasing HDMC operating income guidance to $10 million-$50 million. HDFS operating income guidance was also raised to $55 million-$70 million.
• Management acknowledged ongoing headwinds, including a challenging Europe market, domestic supplier issues that hurt 2026 margins, and continued tariff uncertainty. It said the tariff cost outlook remains $75 million-$90 million for 2026, excluding recoveries.

Harley-Davidson Trading Down 3.8%

Shares of HOG stock opened at $26.58 on Friday. The firm has a market capitalization of $2.80 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 18.57 and a beta of 1.26. Harley-Davidson has a 1 year low of $17.09 and a 1 year high of $31.25. The firm’s fifty day simple moving average is $25.15 and its 200 day simple moving average is $22.33. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.37.

Harley-Davidson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 8th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.75 dividend on an annualized basis and a yield of 2.8%. Harley-Davidson’s payout ratio is 42.61%.

Key Stories Impacting Harley-Davidson

Here are the key news stories impacting Harley-Davidson this week:

• Positive Sentiment: Harley-Davidson beat Q2 profit expectations, reporting $0.75 per share versus estimates around $0.65-$0.62, which suggests earnings remained resilient despite a tougher operating backdrop. Harley-Davidson Delivers Second Quarter Financial Results and Raises Full-Year Guidance
• Positive Sentiment: The company raised full-year guidance and said turnaround momentum is improving, with management pointing to strong domestic retail sales and healthy dealer inventory levels as support for the outlook. Harley-Davidson posts lower quarterly results as raw material costs rise
• Positive Sentiment: Several broker notes stayed constructive, including Bank of America’s reiterated Buy rating and Baird’s higher price target to $30, signaling Wall Street still sees upside from current levels. Bank of America Securities Sticks to Their Buy Rating for Harley-Davidson (HOG)
• Neutral Sentiment: Revenue came in at $1.23 billion, above expectations but still down 5.9% year over year, showing the business is improving versus forecasts but not yet back to prior-year growth. Harley-Davidson: Q2 Earnings Snapshot
• Negative Sentiment: Motorcycle deliveries and bike sales fell short of expectations, which pressured sentiment and offset some of the benefit from the earnings beat and improved guidance. Harley-Davidson Q2 bike sales fall short of expectations
• Negative Sentiment: Quarterly profit and revenue were both lower than a year ago, and Reuters noted higher raw material costs, highlighting continued margin pressure in the core business. Harley-Davidson posts lower quarterly results as raw material costs rise

Insiders Place Their Bets

In related news, CFO Jonathan R. Root sold 1,554 shares of Harley-Davidson stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total transaction of $37,979.76. Following the sale, the chief financial officer directly owned 29,400 shares of the company’s stock, valued at $718,536. This trade represents a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.00, for a total value of $40,664.00. Following the transaction, the insider owned 30,012 shares in the company, valued at $780,312. This represents a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 4,672 shares of company stock valued at $116,266. Insiders own 0.97% of the company’s stock.

Institutional Trading of Harley-Davidson

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pinnacle Holdings LLC acquired a new stake in Harley-Davidson during the fourth quarter worth $30,000. Geneos Wealth Management Inc. lifted its stake in Harley-Davidson by 153.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock worth $53,000 after purchasing an additional 1,278 shares during the period. Johnson Financial Group Inc. lifted its position in shares of Harley-Davidson by 15,387.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 3,717 shares of the company’s stock worth $104,000 after buying an additional 3,693 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Harley-Davidson during the fourth quarter valued at $113,000. Finally, Centaurus Financial Inc. acquired a new position in Harley-Davidson in the third quarter valued at about $168,000. 85.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. DA Davidson increased their price objective on Harley-Davidson from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Griffin Securities set a $30.00 price objective on Harley-Davidson in a research report on Monday, July 6th. UBS Group boosted their price target on Harley-Davidson from $19.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Citigroup increased their price objective on Harley-Davidson from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.89.

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.