Harley-Davidson Full Year 2024 Earnings: Misses Expectations

Harley-Davidson (NYSE:HOG) Full Year 2024 Results

Key Financial Results

• Revenue: US$5.19b (down 11% from FY 2023).
• Net income: US$455.4m (down 36% from FY 2023).
• Profit margin: 8.8% (down from 12% in FY 2023). The decrease in margin was driven by lower revenue.
• EPS: US$3.46 (down from US$4.96 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Harley-Davidson Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 5.5%.

The primary driver behind last 12 months revenue was the Harley-Davidson Motor Company (HDMC) (Excluding LiveWire) segment contributing a total revenue of US$4.12b (79% of total revenue). Notably, cost of sales worth US$3.01b amounted to 58% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$903.5m (98% of total expenses). Explore how HOG's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Auto industry in the US are expected to grow by 14%.

Performance of the American Auto industry.

The company's shares are down 2.7% from a week ago.

Valuation

Following the latest earnings results, Harley-Davidson may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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