Harley Q3 Earnings Surpass Expectations, Revenues Rise Y/Y

Harley-Davidson, Inc. HOG reported third-quarter 2025 adjusted earnings of $3.10 per share, which topped the Zacks Consensus Estimate of $1.38. The company had reported earnings of 91 cents per share in the year-ago quarter. The motorcycle manufacturer generated consolidated revenues (including motorcycle sales and financial services revenues) of $1.34 billion, up 17% from the prior-year quarter.Harley-Davidson, Inc. Price, Consensus and EPS Surprise Harley-Davidson, Inc. price-consensus-eps-surprise-chart | Harley-Davidson, Inc. QuoteSegmental HighlightsHarley-Davidson Motor Company: Total revenues from the Motorcycle and Related Products segment, constituting the bulk of the firm’s overall revenues, rose 23% on a year-over-year basis to $1.07 billion and topped our forecast of $1.02 billion on higher-than-expected motorcycle shipments. Motorcycle shipments worldwide increased 33% to 36,500 units and topped our estimate of 34,541 units. In the quarter under review, revenues from the sale of motorcycles came in at $822 million, up 34% year over year. The segment generated an operating income of $54 million, which fell 2% year over year.During the reported quarter, Harley-Davidson retailed 34,000 motorcycle units globally, which declined 6% year over year but topped our expectations of 32,360 units. Its retail motorcycle units sold in North America decreased 5% to 23,500. Sales in EMEA or Europe, the Middle East and Africa declined 17% year over year. Sales in the Asia Pacific fell 3% while sales in Latin America rose 16% year over year.Revenues from parts & accessories were down 4% from a year ago to $167 million, but beat our estimate of $165.3 million. Revenues from apparel rose 1% year over year to $56 million but fell short of our forecast of $57.5 million.Harley-Davidson Financial Services: Revenues for Harley-Davidson Financial Services totaled $261 million. The figure declined 3% year over year. Operating income rose 472% to $439 million.LiveWire: During the reported quarter, the total shipment for LiveWire was 184 units, rising 86% from the year-ago quarter levels. Revenues rose 16% to $6 million but missed our estimate of $9.3 million. Operating loss narrowed from $26 million to $18 million. The reported loss was slightly narrower than our projection of a loss of $18.6 million.Financial PositionIn the third quarter, selling, general and administrative expenses from the HDMC unit increased to $229 million from $208.7 million in the year-ago quarter. The company paid dividends of 18 cents per share. No shares were repurchased in the third quarter of 2025.Harley-Davidson had cash and cash equivalents of $1.78 billion as of Sept. 30, 2025. The long-term debt decreased to $3.15 million from $4.47 million recorded as of Dec. 31, 2024.HOG Updates LiveWire GuidanceThe company still withholds its 2025 HDMC financial outlook amid tariff uncertainties, but updates guidance for the LiveWire business.For LiveWire, it now expects an operating loss of $72-$77 million compared with the previous estimate of a loss of $59-$69 million. It expects total cash usage of $50-$60 million.Harley’s Zacks Rank & Key PicksHOG carries a Zacks Rank #5 (Strong Sell) at present.Some better-ranked stocks in the auto space are General Motors Company GM, OPENLANE, Inc. KAR and Garrett Motion Inc. GTX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for GM’s 2025 and 2026 EPS has improved 67 cents and $1.14, respectively, in the past 30 days.The Zacks Consensus Estimate for KAR’s 2025 sales and earnings implies year-over-year growth of 5.6% and 37.7%, respectively. EPS estimates for 2025 have improved 13 cents in the past 90 days. EPS estimates for 2026 have improved 2 cents in the past 30 days.The Zacks Consensus Estimate for GTX’s 2025 sales and earnings implies year-over-year growth of 2.6% and 16.7%, respectively. EPS estimates for 2025 and 2026 have improved 3 cents and 8 cents, respectively, in the past seven days.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Harley-Davidson, Inc. (HOG): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report OPENLANE, Inc. (KAR): Free Stock Analysis Report Garrett Motion Inc. (GTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks