Harley-Davidson (NYSE:HOG) Issues Earnings Results

Harley-Davidson (NYSE:HOG) issued 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. Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The company had revenue of $496.16 million during the quarter, compared to the consensus estimate of $482.21 million. During the same period in the previous year, the company earned ($0.93) EPS. Harley-Davidson’s quarterly revenue was down 9.8% on a year-over-year basis.

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 Performance

Shares of HOG stock traded down $0.53 on Thursday, hitting $20.05. The company had a trading volume of 1,502,946 shares, compared to its average volume of 3,266,779. The firm has a market cap of $2.37 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 0.53 and a beta of 1.39. The company has a quick ratio of 2.36, a current ratio of 2.10 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $20.91 and a 200-day moving average price of $24.75. Harley-Davidson has a twelve month low of $19.33 and a twelve month high of $31.25.

Harley-Davidson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Tuesday, December 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, December 9th. Harley-Davidson’s payout ratio is 17.48%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley set a $18.00 price objective on shares of Harley-Davidson in a research note on Friday, January 16th. UBS Group dropped their target price on shares of Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. Zacks Research upgraded Harley-Davidson from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Robert W. Baird set a $22.00 price objective on Harley-Davidson in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harley-Davidson in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.25.

Key Headlines Impacting Harley-Davidson

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

• Positive Sentiment: DA Davidson lowered its price target from $30 to $25 but kept a “Buy” rating, still implying roughly ~21% upside from the recent price — a vote of confidence from one shop despite the reset.
• Positive Sentiment: Shares briefly rebounded after an initial premarket drop tied to the outlook, showing continued volatility and pockets of buying interest as traders price in the new guidance. Harley-Davidson Shares Rebound After 11% Premarket Drop on 2026 Outlook
• Neutral Sentiment: UBS kept a Hold rating with a $27 target, signaling balanced risk/reward as the market digests restructuring potential vs. underwhelming guidance. Balanced Risk-Reward Keeps Harley-Davidson at Hold Amid Restructuring Upside and Underwhelming 2026 Guidance
• Neutral Sentiment: Analyst notes and earnings transcripts are circulating (earnings call / presentation available) — useful for parsing management’s turnaround plan and cost actions but not immediate market movers by themselves. Harley‑Davidson 2025 Q4 Results – Earnings Call Presentation
• Negative Sentiment: Q4 results missed expectations: wider loss, revenue declines and weak demand in key regions (EMEA/APAC). Management’s 2026 outlook disappointed investors and triggered the initial premarket selloff. Harley‑Davidson shares skid after sluggish demand drives wider loss
• Negative Sentiment: Credit risk: multiple outlets report warnings that Harley‑Davidson’s debt could be downgraded to junk by spring if results and cash flow do not improve — a downgrade would raise funding costs and limit strategic flexibility. Why Harley-Davidson’s debt may now be on the verge of junk status
• Negative Sentiment: Market commentary is questioning the long‑term growth story after repeated misses and a weaker demand environment—some pieces argue the company faces an uphill climb to “roar” back. Can Harley‑Davidson Ever Roar Higher Again?

Institutional Investors Weigh In On Harley-Davidson

Several large investors have recently bought and sold shares of the company. Boston Partners lifted its stake in Harley-Davidson by 2.1% in the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company’s stock worth $112,179,000 after purchasing an additional 84,516 shares in the last quarter. State Street Corp raised its holdings in shares of Harley-Davidson by 1.7% in the 2nd quarter. State Street Corp now owns 3,757,709 shares of the company’s stock valued at $88,682,000 after buying an additional 64,118 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $39,890,000 after purchasing an additional 69,231 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Harley-Davidson by 155.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 959,517 shares of the company’s stock worth $19,661,000 after buying an additional 584,593 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Harley-Davidson in the 3rd quarter valued at approximately $21,761,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

About Harley-Davidson

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.