HOG · Harley-Davidson Q2 FY2026 earnings call record财报电话会记录

“Retail sales of new motorcycles outside of North America were down 5% versus prior year, with approximately 13,000 motorcycles sold, resulting in Q2 global retail sales of new motorcycles being up 1% versus the prior year, with a total of approximately 42,500 retailed.”

“We are aware that pricing continues to be on the top of customers' minds, given the current global setup that includes inflationary pressures, interest rates that continue to run above recent historical lows, and global geopolitical uncertainty.”

“In addition, North America saw strength across the portfolio, in particular in both our sport and adventure touring families, with a positive response to our 2026 motorcycle lineup and through increasingly targeted customer incentives.”

“In Q2, HDMC gross profit came in at 27.5%, which compares to 28.6% in the prior year or down 108 basis points versus prior year.”

“In Q2, HDMC had operating income of $72 million for an operating income margin of 6.6%, which compares to operating income of $61 million in the prior year period and a margin of 5.9%.”

“At the EBITDA level at HDMC in Q2, HDMC Adjusted EBITDA came in at $115 million for an Adjusted EBITDA margin of 10.4%, which compares to an Adjusted EBITDA of $97 million in the prior year period and an Adjusted EBITDA margin of 9.3%.”

“You can see on slide 20, we continue to expect the cost of new or increased tariffs to be in a range of $75 million-$90 million, same as what we expected at our last earnings.”

“For the second quarter of 2026, consolidated revenue increased 52% over prior year same quarter, driven by increased unit sales of both electric motorcycles and STACYC brand electric balance bikes.”

“In Q2 of 2026, we repurchased a total of 1.3 million shares worth $30 million on a discretionary basis, and therefore have purchased 7.9 million shares worth $158 million in the first half of 2026.”

“At the parent level or HDI level, we point out that total debt plus total deposit levels of $2.8 billion at the end of Q2 of 2026 compares to $7.4 billion at the end of Q2 of 2025.”

“As you heard Artie say, as we serve our customers better, give them more options, we do want to make sure that our dealers are appropriately inventoried, and that's something that we will certainly be working on very actively with them.”

“Also on the plus side of 2027, some of the targets you've given for 2027, you're kind of already hitting here in Q2 in terms of the motor company EBITDA margin and the growth margin for the motor company.”