Harley-Davidson’s first-quarter outcomes are out!
Consolidated income is up +20%, working earnings is up +28%… and LiveWire is working from an working lack of $25 million.
Yikes? Yay? Whichever method you lean, let’s check out the charts first.
Harley’s press launch on Motorsport Newswire reveals the next desk for motorbike gross sales:
2023 Harley-Davidson Retail Motorbike Gross sales (First Quarter)
Total, issues look respectable for the corporate; international motorbike shipments are up by a stable +14%, and income has spiked +21%. Even Harley’s Elements & Equipment income skilled a cute +1% bump, with Harley’s Attire income capturing up +39% due to their upcoming a hundred and twentieth Anniversary and residual Homecoming Pageant.
The entire above figures translate to a income progress of +4-7% and an working earnings margin of +14.1-14.6% – and here’s the place issues get actual fascinating.
Regardless of international bike shipments wanting good, Harley’s report tells us motorbike gross sales within the first quarter had been down -12% p.c in comparison with final yr, with North America specifically nosediving -17%.
A few of this was anticipated – not less than, primarily based on point out of a “deliberate unit combine shift in direction of the worthwhile core product segments, following the sunsetting of Sportster” within the HDMC class.
2023 LiveWire Shipments, Income and Working Losses (First Quarter)
We additionally see a projection of the LiveWire model expectations for 2023, the place Harley-Davidson expects LiveWire motorbike unit gross sales of 750–2,000 and an working lack of $115 to $125 million for this yr, due to “decrease gross sales.”
See additionally
Total, we’re seeing a Harley-Davidson working properly from their normal ICE nook, with LiveWire being the predictably unpredictable issue within the model’s funds and Harley’s Hardwire Technique Plan prioritized to the nines.
“Harley-Davidson delivered a stable begin to the yr, with consolidated first-quarter income up 20%, pushed by HDMC, reflecting the progress we proceed to make in advancing our Hardwire strategic plan,” states Jochen Zeitz, Chairman, CEO and President of Harley-Davidson.
“Constructing on our dedication to innovate in our core classes, yesterday’s kick-off of a brand new period of CVO touring bikes, with the all-new 2023 CVO Road Glide® and CVO Highway Glide®, is a landmark for the Firm and our clients.”
All the very best to Harley-Davidson (and LiveWire) as we head towards Q3.
