-71% p.a.
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Introduction to our strategy no description yet Quick Summary Metric Value Return % p.a. -71 Days active 511 …
source: Benzinga
tickers affected by this
| ticker | polarity | why? |
|---|---|---|
| HOG | positively | Investors may view Harley-Davidson’s comprehensive product development and strategic initiatives as potential drivers for future growth, leading to a potential positive impact on the ticker HOG in the long term. |
| LVWR | negatively | The ticker LVWR will likely be affected negatively by Harley-Davidson’s mixed results and lower sales expectations, as it indicates potential challenges for the LiveWire electric motorcycle unit, impacting its performance and market sentiment. |
our strategies and bots using these tickers
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summary
Harley-Davidson’s Q4 Mixed Results, CEO Zeitz Maintains Optimism Despite Sales Dip
Harley-Davidson Inc (HOG) reported fourth-quarter fiscal 2023 HDMC + LiveWire sales of $807 million, missing the consensus of $880.22 million. HDMC revenue was down 14% YoY due to lower volumes, where improved mix was offset by incentive spend.
Global motorcycle shipments for HDMC decreased by 13% to 29,544, attributed to prudent dealer inventory management and market conditions. Consolidated revenue was down 8% YoY to $1.05 billion with HDMC revenue declining by 14% while HDFS saw revenue growth of 15%.
HOG’s EPS was $0.18, down from $0.28 a year ago but beating the consensus of $0.04. The gross profit margin in HDMC contracted 363 bps YoY to 22.97%, with gross profit declining 25.6% to $181.35 million. The operating loss from HDMC expanded to $(44.17) million from $(32) million in the previous year’s fourth quarter.
Harley-Davidson generated $754.89 million in cash from operating activities for the fiscal year, up from $548.46 million a year ago, holding cash and equivalents of $1.65 billion as of December 31, 2023.
Jochen Zeitz, the Chairman, President, and CEO of Harley-Davidson, expressed optimism despite the sales dip, stating, “We are excited by the early read of our new Model Year launch, the most comprehensive product development in the touring platform in well over 10 years, that will redefine the Harley-Davidson Grand American Touring experience for years to come and lay the foundation to drive retail sales growth in ’24.”
For the 2024 outlook, Harley-Davidson expects HDMC revenue growth outlook of flat to down 9% and an operating income margin of 12.6% – 13.6%. HOG anticipates LiveWire electric motorcycle unit sales of 1,000 to 1,500 with an operating loss projection of $(115) million to $(125) million. The company foresees capital investments of $225 million to $250 million.
In trading, HOG shares were lower by 0.64% at $34.32 on the last check Thursday. Investors continue to monitor Harley-Davidson’s strategic initiatives and product launches as they look forward to potential growth opportunities in the future.
