HARLEY-DAVIDSON, INC. reported second-quarter 2026 results with revenue of $1.11B, up from $1.05B a year earlier, while net income and diluted EPS declined to $79.81M and $0.75, respectively, reflecting margin pressure from incentives and product mix despite shipment and retail momentum.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$1.11B$1.05B6.1% | Net income²$79.81M$107.57M(25.8%) | Diluted EPS³$0.75$0.88(14.8%) |
¹ Reported as “Revenue”. ² Reported as “Net income attributable to Harley-Davidson, Inc.”. ³ Reported as “Diluted earnings per share”.
Business Highlights
- Strategic reset: New CEO launched the "Back to the Bricks" plan targeting $225M of annual benefits and a mid-single-digit retail CAGR to restore performance.
- Shipments and product mix: HDMC shipments rose year over year (Q2 +9.4%), boosting motorcycle revenue, though incentives and shipment mix pressured margins.
- Channel and model momentum: U.S. retail sales growth was driven by Grand American Touring and Sport models; the Sportster was reintroduced and the Sprint is planned.
- LiveWire and EVs: LiveWire volumes increased sharply (Q2 shipments +385%) and revenue rose, but the EV unit continues to report operating losses as cost containment remains a focus.
- HDFS changes: Harley-Davidson Financial Services sold the majority of retail receivables in 2025 and now earns servicing fees while rebuilding held receivables, reducing interest income.
Original SEC Filing:
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