Harley Davidson Releases 2nd Quarter 2022 numbers
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Harley Davidson Releases 2nd Quarter 2022 numbers
Text Version
Slides
Second Quarter 2022 Summary of Results
For the full year 2022, the Company reaffirms its initial guidance and continues to expect:
Ouch on their projection for HDFS.
Oh, they shipped 5,059 Pan America's this quarter.
Slides
Second Quarter 2022 Summary of Results
- Global motorcycle shipments were adversely impacted (down 15 percent in Q2) by the approximately two-week production suspension caused by a regulatory compliance matter at a third-party supplier
- HDMC Revenue down 5 percent with global pricing and growth within Apparel offsetting much of the negative impact from the temporary production suspension
- HDMC Operating Income margin of 15.1 percent, was up 1.2 points versus last year; pricing, lower operating expense and lower EU tariffs offset the impact of the suspension
- HDFS Operating Income decline of 9 percent was driven by the continued normalization of credit losses in-line with expectations
- GAAP diluted EPS of $1.46 was up 10 percent vs last year; Harley-Davidson repurchased $64 million of shares (or 1.7 million shares) on a discretionary basis in Q2
- The Company reaffirms its full-year 2022 outlook
- Merger transaction between LiveWire and AEA-Bridges Impact Corporation now expected to list at the NYSE in late September
For the full year 2022, the Company reaffirms its initial guidance and continues to expect:
- HDMC revenue growth of 5 to 10%
- HDMC operating income margin of 11 to 12%
- HDFS operating income to decline by 20 to 25%
- Capital investments of $190 million to $220 million
Ouch on their projection for HDFS.
Oh, they shipped 5,059 Pan America's this quarter.
Last edited by ChrisHo; Jul 28, 2022 at 11:41 AM.
Grand HDF Member
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2Q
Based on the current downturn of the economy, inflation at 9.1 percent and interest rates at a forty year high,gas prices at all time high. not to mention the recession we are currently in. Expect worst going ahead. Projections are nothing more than that, a wish list .
Road Captain
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15% Operating Income Margin of 15% is outstanding, but not sustainable. That’s a function of not making as many bikes and having to spend money on parts, but just selling inventory.
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The 2022 outlook seems overly optimistic given the current supply situation. Dealers in the vehicle sales business in general are having to rely on used sales to stay in the green. This is not a normal market and I don't see how they can stick with the current Outlook. There are only so many used vehicles to sell and unless there is a sudden infusion of new vehicle inventory to dealers, I don't see how revenue will be positive in the 3rd and 4th quarters, unless they start selling T-Shirts for $2,000 a pop.
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From: U.S.A. Upstate N. Y.
2Q numbers
Kind of hard to sell motorcycles when the common worker in America can't afford to fill their tanks with gas or feed their families, not to mention the loss of employment and savings. Look at the stock market now opposed to eighteen months ago . Motorcycles are a recreational purchase, not a necessary.
Harley is no closing dealers because the economy is growing and sales are great.
Harley is no closing dealers because the economy is growing and sales are great.
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From: Albany, NY
If the CFO can't predict full year 2022 results with only 5 months left, she has no business being CFO. The question is what is the 2023 outlook? Noticed $312 million in share repurchases. Nothing better to do with the $ than prop up the share price?
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I was at my dealer today. Had a conversation with them. Overall business is still good according to them. They have more new bikes on the floor than they have had in a few weeks. It got pretty thin for a while. They also have a few used CVO’s at original MSRP asking prices back when they were new. Yeah!
They have one of the new special edition trikes with the matt green Army theme paint. I am not a fan at all. He told me they were NOT told the color or theme. They had to order either a PanAm or Trike sight unseen. What was interesting was he said their PanAm sales have really slowed, so they took a chance on the trike. To each their own, but I agree with the dealer, it does not look good. He wishes they had ordered the PanAm.
There is a beautiful Artic Frost Street Glide on the floor for $37,999.00 with 3500 miles. That bike has really grown on me but dang on the price. Come to find out it’s a consignment bike and payoff is $37k. He said they called the guy to come and get it as they cannot sell it at that price. They were doing him a favor as he purchased the bike out of state.
Interest Rates are up.
Auto prices are dropping slightly.
Auto repossessions are on the rise.
Housing sales are down 20%.
We are all going to feel a lot more pain.
I am seeing a lot of large SUV’s and pickups in yards and parking lots with ForSale signs.
Anyone notice the “Hiring” and “Sign on Bonus” signs coming down at manufacturing plants?
They have one of the new special edition trikes with the matt green Army theme paint. I am not a fan at all. He told me they were NOT told the color or theme. They had to order either a PanAm or Trike sight unseen. What was interesting was he said their PanAm sales have really slowed, so they took a chance on the trike. To each their own, but I agree with the dealer, it does not look good. He wishes they had ordered the PanAm.
There is a beautiful Artic Frost Street Glide on the floor for $37,999.00 with 3500 miles. That bike has really grown on me but dang on the price. Come to find out it’s a consignment bike and payoff is $37k. He said they called the guy to come and get it as they cannot sell it at that price. They were doing him a favor as he purchased the bike out of state.
Interest Rates are up.
Auto prices are dropping slightly.
Auto repossessions are on the rise.
Housing sales are down 20%.
We are all going to feel a lot more pain.
I am seeing a lot of large SUV’s and pickups in yards and parking lots with ForSale signs.
Anyone notice the “Hiring” and “Sign on Bonus” signs coming down at manufacturing plants?
