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

Harley-Davidson (NYSE:HOG) announced its quarterly earnings results on Tuesday. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($1.52), FiscalAI reports. The firm had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. Harley-Davidson had a net margin of 11.37% and a return on equity of 15.19%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.93) earnings per share.

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

• Harley intentionally cut wholesale shipments and ran targeted promotions to reduce excess Touring inventory, achieving global dealer inventory down 17% (16% in North America), ahead of its 10% target.
• The company reported Q4 consolidated revenue down 28% and an operating loss of $361 million (EPS -$2.44) and cautioned 2026 margins will be pressured by deliberate production below wholesale and higher tariffs forecast at $75–$105 million.
• Management is executing a strategic reset to be detailed in May and expects at least $150 million of annual run?rate cost savings by 2027 from corporate, manufacturing and operating expense reductions.
• The HDFS transaction shifts Harley?Davidson Financial Services to a capital?light, de?risked model, delivered a ~$1 billion dividend to the parent and is expected to improve ROE over time despite Q4 liability?management costs.
• LiveWire remains loss-making with a 2026 operating loss guide of $70–$80 million; the business has reduced its term?loan principal to $75 million and plans the S4 Honcho launch in spring 2026.

Harley-Davidson Stock Up 4.2%

Shares of NYSE:HOG opened at $20.98 on Wednesday. Harley-Davidson has a 1 year low of $19.33 and a 1 year high of $31.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.51 and a quick ratio of 2.36. The business’s 50-day moving average is $20.99 and its 200-day moving average is $24.78. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 5.09, a P/E/G ratio of 0.51 and a beta of 1.39.

Harley-Davidson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Tuesday, December 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.72 annualized dividend and a dividend yield of 3.4%. Harley-Davidson’s dividend payout ratio (DPR) is 17.48%.

Hedge Funds Weigh In On Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in HOG. Boston Partners grew its position in shares of Harley-Davidson by 2.1% during the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company’s stock worth $112,179,000 after buying an additional 84,516 shares during the period. State Street Corp boosted its stake in Harley-Davidson by 1.7% during the second quarter. State Street Corp now owns 3,757,709 shares of the company’s stock worth $88,682,000 after acquiring an additional 64,118 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Harley-Davidson by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,946,790 shares of the company’s stock worth $39,890,000 after purchasing an additional 69,231 shares during the period. Goldman Sachs Group Inc. increased its stake in Harley-Davidson by 155.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 959,517 shares of the company’s stock valued at $19,661,000 after purchasing an additional 584,593 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Harley-Davidson during the third quarter valued at about $21,761,000. 85.10% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Harley-Davidson

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

• Positive Sentiment: Shares rebounded after an earlier ~11% premarket drop tied to the company’s 2026 outlook, suggesting dip buyers and traders stepped in to buy the weakness. Harley-Davidson Shares Rebound After 11% Premarket Drop on 2026 Outlook
• Positive Sentiment: Harley posted Q4 sales of about $496M, which beat some street estimates — an offset to the profit miss that gives short?term cover for buyers focused on top?line resilience. Harley-Davidson Reports Weak Q4 On Lower Shipment, Widened Losses
• Neutral Sentiment: The company issued a 2026 outlook and described an operational reset to align wholesale shipments with retail demand — this reduces inventory risk but introduces near?term execution risk as actions are implemented. Harley?Davidson Delivers Fourth Quarter and Full Year Financial Results and 2026 Outlook
• Neutral Sentiment: Management commentary and the slide deck / earnings presentation are available for detail on dealer actions and cadence for the reset — useful for investors judging execution risk/timing. Harley?Davidson, Inc. 2025 Q4 – Results – Earnings Call Presentation
• Negative Sentiment: Q4 EPS missed badly: reported loss of ($2.44) vs. consensus around ($0.92), a much larger shortfall that triggered investor concern about profitability and near?term cash flow. Harley?Davidson (HOG) Reports Q4 Loss, Misses Revenue Estimates
• Negative Sentiment: Demand weakness — especially in EMEA and APAC — and lower shipments drove the wider loss and prompted concerns about sustained global consumer appetite for recreational vehicles. Harley?Davidson’s fourth-quarter loss widens
• Negative Sentiment: Analyst price?target cuts and negative narrative pieces (including questions on the long?term bull case and a recent board departure) are adding to volatility and pressuring sentiment until execution on the reset is proven. Harley?Davidson (HOG) Is Up 5.1% After Q4 Loss And Weaker Outlook With Board Exit – Has The Bull Case Changed?

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zacks Research upgraded shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Morgan Stanley set a $18.00 price target on shares of Harley-Davidson in a report on Friday, January 16th. DA Davidson reduced their price objective on shares of Harley-Davidson from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harley-Davidson in a research report on Thursday, January 22nd. Finally, Loop Capital began coverage on Harley-Davidson in a report on Tuesday, November 25th. They set a “hold” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.86.

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.