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Harley-Davidson’s first-quarter results are out!
Consolidated revenue is up +20%, operating income is up +28%… and LiveWire is working from an operating loss of $25 million.
Yikes? Yay? Whichever way you lean, let’s take a look at the charts first.
Harley’s press release on Motorsport Newswire shows the following table for motorcycle sales:
2023 Harley-Davidson Retail Motorcycle Sales (First Quarter). Table sourced from Harley’s press release.
Overall, things look decent for the company; global motorcycle shipments are up by a solid +14%, and revenue has spiked +21%. Even Harley’s Parts & Accessories revenue experienced a cute +1% bump, with Harley’s Apparel revenue shooting up +39% thanks to their upcoming 120th Anniversary and residual Homecoming Festival.
All of the above figures translate to a revenue growth of +4-7% and an operating income margin of +14.1-14.6% – and here’s where things get real interesting.
A LiveWire One, with media sourced from Roadracing World.
Despite global bike shipments looking good, Harley’s report tells us motorcycle sales in the first quarter were down -12% percent compared to last year, with North America in particular nosediving -17%.
Some of this was expected – at least, based on mention of a “planned unit mix shift towards the profitable core product segments, following the sunsetting of Sportster” in the HDMC category.
2023 LiveWire Shipments, Revenue and Operating Losses (First Quarter). Media sourced from Harley’s press release.
We also see a projection of the LiveWire brand expectations for 2023, where Harley-Davidson expects LiveWire motorcycle unit sales of 750–2,000 and an operating loss of $115 to $125 million for this year, thanks to “lower sales.”
A view of a Harley-Davidson logo plate. Media sourced from the Wisconsin Public Radio.
Overall, we’re seeing a Harley-Davidson working well from their usual ICE corner, with LiveWire being the predictably unpredictable factor in the brand’s budget and Harley’s Hardwire Strategy Plan prioritized to the nines.
“Harley-Davidson delivered a solid start to the year, with consolidated first-quarter revenue up 20%, driven by HDMC, reflecting the progress we continue to make in advancing our Hardwire strategic plan,” states Jochen Zeitz, Chairman, CEO and President of Harley-Davidson.
“Building on our commitment to innovate in our core categories, yesterday’s kick-off of a new era of CVO touring bikes, with the all-new 2023 CVO Street Glide® and CVO Road Glide®, is a landmark for the Company and our customers.”
All the best to Harley-Davidson (and LiveWire) as we head toward Q3.
The post Harley-Davidson Releases First Quarter Results appeared first on webBikeWorld.
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Consolidated revenue is up +20%, operating income is up +28%… and LiveWire is working from an operating loss of $25 million.
Yikes? Yay? Whichever way you lean, let’s take a look at the charts first.
Harley’s press release on Motorsport Newswire shows the following table for motorcycle sales:
2023 Harley-Davidson Retail Motorcycle Sales (First Quarter)
2023 Harley-Davidson Retail Motorcycle Sales (First Quarter). Table sourced from Harley’s press release.
Overall, things look decent for the company; global motorcycle shipments are up by a solid +14%, and revenue has spiked +21%. Even Harley’s Parts & Accessories revenue experienced a cute +1% bump, with Harley’s Apparel revenue shooting up +39% thanks to their upcoming 120th Anniversary and residual Homecoming Festival.
All of the above figures translate to a revenue growth of +4-7% and an operating income margin of +14.1-14.6% – and here’s where things get real interesting.
A LiveWire One, with media sourced from Roadracing World.
Despite global bike shipments looking good, Harley’s report tells us motorcycle sales in the first quarter were down -12% percent compared to last year, with North America in particular nosediving -17%.
Some of this was expected – at least, based on mention of a “planned unit mix shift towards the profitable core product segments, following the sunsetting of Sportster” in the HDMC category.
2023 LiveWire Shipments, Revenue and Operating Losses (First Quarter)
2023 LiveWire Shipments, Revenue and Operating Losses (First Quarter). Media sourced from Harley’s press release.
We also see a projection of the LiveWire brand expectations for 2023, where Harley-Davidson expects LiveWire motorcycle unit sales of 750–2,000 and an operating loss of $115 to $125 million for this year, thanks to “lower sales.”
A view of a Harley-Davidson logo plate. Media sourced from the Wisconsin Public Radio.
Overall, we’re seeing a Harley-Davidson working well from their usual ICE corner, with LiveWire being the predictably unpredictable factor in the brand’s budget and Harley’s Hardwire Strategy Plan prioritized to the nines.
“Harley-Davidson delivered a solid start to the year, with consolidated first-quarter revenue up 20%, driven by HDMC, reflecting the progress we continue to make in advancing our Hardwire strategic plan,” states Jochen Zeitz, Chairman, CEO and President of Harley-Davidson.
“Building on our commitment to innovate in our core categories, yesterday’s kick-off of a new era of CVO touring bikes, with the all-new 2023 CVO Street Glide® and CVO Road Glide®, is a landmark for the Company and our customers.”
All the best to Harley-Davidson (and LiveWire) as we head toward Q3.
*Media sourced from the Wisconsin Public Radio, Moto NZ, Roadracing World, and Harley-Davidson*
The post Harley-Davidson Releases First Quarter Results appeared first on webBikeWorld.
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