Harley-Davidson (NYSE:HOG) Releases Earnings Results, Beats Expectations By $0.10 EPS

Harley-Davidson (NYSE:HOG) released its quarterly earnings results on Thursday. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10, FiscalAI reports. The business had revenue of $1.23 billion during 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 period in the previous year, the company posted $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 Stock Performance

Shares of HOG traded down $1.33 on Thursday, reaching $26.29. 1,642,335 shares of the company’s stock traded hands, compared to its average volume of 3,239,546. The stock’s 50 day simple moving average is $25.13 and its two-hundred day simple moving average is $22.29. The stock has a market cap of $2.77 billion, a PE ratio of 14.96, a PEG ratio of 17.14 and a beta of 1.26. Harley-Davidson has a 52-week low of $17.09 and a 52-week high of $31.25. 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 company also recently declared 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. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 8th. Harley-Davidson’s dividend payout ratio (DPR) is presently 42.61%.

Insider Transactions at Harley-Davidson

In other Harley-Davidson news, insider Paul J. Krause sold 1,564 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.00, for a total value of $40,664.00. Following the completion of the transaction, the insider owned 30,012 shares in the company, valued at $780,312. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed 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, CFO Jonathan R. Root sold 1,554 shares of Harley-Davidson stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.44, for a total value of $37,979.76. Following the sale, the chief financial officer owned 29,400 shares of the company’s stock, valued at approximately $718,536. This trade represents a 5.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,672 shares of company stock valued at $116,266 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management boosted its position in Harley-Davidson by 4.7% in the 3rd quarter. Triumph Capital Management now owns 10,171 shares of the company’s stock worth $284,000 after purchasing an additional 454 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Harley-Davidson by 3.4% during the third quarter. Dark Forest Capital Management LP now owns 26,445 shares of the company’s stock valued at $738,000 after acquiring an additional 872 shares during the last quarter. State of Wyoming grew its holdings in shares of Harley-Davidson by 11.5% during the fourth quarter. State of Wyoming now owns 10,865 shares of the company’s stock worth $223,000 after buying an additional 1,121 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Pinnacle Holdings LLC acquired a new position in Harley-Davidson during the fourth quarter worth $30,000. Institutional investors own 85.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HOG shares. Wells Fargo & Company upped their target price on Harley-Davidson from $15.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Weiss Ratings raised Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Robert W. Baird set a $28.00 price objective on shares of Harley-Davidson in a report on Wednesday, May 6th. Citigroup lifted their target price on shares of Harley-Davidson from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Sunday, July 12th. Finally, Wolfe Research restated an “outperform” rating on shares of Harley-Davidson in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Harley-Davidson has an average rating of “Hold” and a consensus target price of $25.67.

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.