HARLEY-DAVIDSON Reports Q2 FY2023 Financial Results
August 13, 2023
🌥️Earnings Overview
HARLEY-DAVIDSON ($NYSE:HOG) reported a decrease in total revenue and net income for the second quarter of fiscal year 2023, which ended on June 30, 2023. Revenue for the quarter was USD 1445.5 million, a 1.6% decrease compared to the same quarter the previous year. Net income was reported at USD 178.0 million, a 17.5% decrease from the same quarter a year earlier.
Share Price
On Thursday, HARLEY-DAVIDSON reported their financial results for the second quarter of FY2023. The stock opened at $38.6 and closed at $37.7, only 0.1% higher than the previous closing price of $37.7. The stock had a relatively flat day, with few changes in the price. The reported earnings were fairly in line with analyst expectations.
The company noted strong sales of their motorcycles and related merchandise, which drove the growth in revenue and profits this quarter. The company also expressed optimism about their outlook for the rest of FY2023, expecting strong sales and growth to continue throughout the year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Harley-davidson. More…
| Total Revenues | Net Income | Net Margin |
| 6.03k | 785.19 | 12.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Harley-davidson. More…
| Operations | Investing | Financing |
| 714.79 | -624.75 | -862.07 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Harley-davidson. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.02k | 8.83k | 21.52 |
Key Ratios Snapshot
Some of the financial key ratios for Harley-davidson are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.1% | 75.1% | 16.9% |
| FCF Margin | ROE | ROA |
| 8.8% | 20.6% | 5.3% |
Analysis
GoodWhale has analyzed HARLEY-DAVIDSON‘s financials and, based on its Star Chart, we classify the company as a ‘gorilla’. This is a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This makes it an attractive option for investors who are looking for reliable returns over time. Furthermore, HARLEY-DAVIDSON has a high health score of 8/10 with regard to its cashflows and debt, which indicates that it is capable of sustaining future operations in times of crisis. HARLEY-DAVIDSON is also strong in dividend and medium in asset, growth, and profitability. More…
Peers
In the motorcycle industry, Harley-Davidson Inc faces competition from Polaris Inc, Lazydays Holdings Inc, and Motorcycle Holdings Ltd. Harley-Davidson has been the market leader for years, but its competitors are constantly trying to catch up.
– Polaris Inc ($NYSE:PII)
Polaris Inc is a American manufacturing company based in Minnesota. The company specializes in off-road vehicles, snowmobiles, motorcycles, and ATVs. Polaris is also a leading manufacturer of electric vehicles.
The company has a market cap of 5.52B as of 2022 and a ROE of 32.56%. Polaris has a long history of innovative and high-quality products that have made it a leader in the powersports industry. The company’s strong financials and commitment to innovation should continue to fuel growth in the years to come.
– Lazydays Holdings Inc ($NASDAQ:LAZY)
Lazydays Holdings Inc is a holding company that, through its subsidiaries, engages in the retail sale of recreational vehicles (RVs) and related services in the United States. It operates through two segments, RV Services and Sales, and RV Accessories and Supplies. The company was founded in 1976 and is headquartered in Englewood, Colorado.
As of 2022, Lazydays Holdings Inc had a market cap of 129.7 million and a return on equity of 41.96%. The company is engaged in the retail sale of recreational vehicles and related services in the United States.
– Motorcycle Holdings Ltd ($ASX:MTO)
Following a banner year in 2020, Harley-Davidson’s market cap has grown to $153.03M. The company’s ROE has also grown to 13.44%. Harley-Davidson is a leading manufacturer of motorcycles and related products and services. The company’s products and services are sold through a worldwide network of independent dealers and distributors.
Summary
Investors may be disappointed with Harley-Davidson’s financial results for the second quarter of FY2023, as total revenue decreased by 1.6% from the same quarter the previous year and net income decreased by 17.5%. This marks a significant decline in profitability from the same period the year before, indicating that the company may be facing headwinds in its current operational environment. Investors should closely monitor Harley-Davidson’s performance in future quarters to see if they can achieve a turnaround in their financials.
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