Harley-Davidson, Inc.
26.95-0.41 (-1.5%)
Oct 29, 4:00:02 PM EDT · NYSE · HOG · USD
Key Stats
Market Cap
3.28BP/E (TTM)
13.15Basic EPS (TTM)
2.05Dividend Yield
0.03%Recent Filings
8-K
Board refresh with new independents
Harley-Davidson refreshed its board as Sara Levinson and N. Thomas Linebarger retired effective September 15, 2025, with no disagreements cited. The board appointed independent directors Daniel J. Nova, a Highland Capital Partners general partner with growth advisory expertise, and Matthew J. Reintjes, YETI Holdings CEO known for brand transformation and innovation, to join committees starting that date. Their skills in strategy, operations, and international expansion will bolster governance amid the company's CEO transition. This adds to four new independents in three years.
8-K
HDFS partnership unlocks $1.25B cash
Harley-Davidson announced a strategic partnership for its financial services arm, HDFS, selling over $5 billion in existing retail loan receivables at a premium and a 4.9% equity stake each to KKR and PIMCO-managed vehicles, valuing HDFS at 1.75x post-transaction book value. This unlocks $1.25 billion in cash for Harley-Davidson, earmarked for $500 million in share repurchases, $450 million in debt reduction, and investments in its motorcycle business. The deal shifts HDFS to a capital-light model, boosting ROE to high 20% long-term while retaining full control. Transaction closes in second half of 2025.
10-Q
Q2 FY2025 results
Harley-Davidson posted Q2 revenue of $1.3B, down 19% y/y from $1.6B, as motorcycle shipments fell 28% to 35,837 units amid softer retail demand and inventory adjustments. Operating income dropped 53% to $112M, with HDMC's $61M reflecting lower volumes and unfavorable leverage, though gross margins held at 29% thanks to pricing and productivity gains. Diluted EPS fell to $0.88 from $1.63, aligning with 122M shares; net income matched operating closely, with no major non-operating drags beyond minor interest. Cash stood at $1.6B, free cash flow at $444M (derived), and total debt at $6.9B, bolstered by $1B revolver availability. The HDFS transaction, set to close later this year, promises $1B in cash for debt paydown and buybacks. Yet tariffs loom large, potentially hiking costs by $50M-$85M.
8-K
Harley-Davidson sells $4B receivables
Harley-Davidson Credit Corp. signed deals on July 30, 2025, to sell a $4 billion portfolio of existing motorcycle contracts to KKR and Cavendish affiliates, closing around October 2025. Subsidiaries committed to buying up to $1 billion in new contracts yearly for five years, while Harley-Davidson Financial Services issues 9.8% equity for $46.6 million cash. This liquidity boost funds liability reductions. Deals hinge on closing conditions.
8-K
Harley-Davidson names new CEO
Harley-Davidson appointed Arthur Starrs, current CEO of Topgolf, as its new President and CEO effective October 1, 2025, alongside a board seat. This follows Jochen Zeitz's planned retirement, with Zeitz staying on as Senior Advisor through February 2026 for a smooth handover. Starrs's package includes a $1.2 million base salary, $2 million cash award, $4.5 million one-time RSUs, and $1.625 million pro-rated 2025 RSUs. Leadership continuity aids strategic transition amid evolving markets.
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