Harley-Davidson Reports Strong First Quarter, Focusing On Their Hardwire 5 Years Plan Ahead.

Harley-Davidson enjoy pent up demand during first quarter, as retail markets demand for Touring motorcycles increased.

Harley-Davidson (NYSE:HOG) reported strong first quarter results, with a great increase of 12% in revenue due to strong retail demand for Touring motorcycles. This comes after several years that Harley-Davidson has a serious declines, which recently let to the company taking the path of electric motorcycles with a 5 year full plan and the appointing of their first Chief Electric Vehicle Officer.

Motorcycles retail sales spiked 30% in North America during the first quarter and 9% globally, the company reports. European deliveries dropped 59%, due to pandemic lockdowns, shipping delays and the discontinuation of sales of two models in EU. With their 5 year “Hardwire” plan, Harley-Davidson now want to win the hearts of younger consumers, which have ever increasing desire in electric motorcycles over ICE.

“I am very pleased with the pace of recovery that we have seen across our business, as demonstrated by the strong financial results this quarter. The actions we have taken to reshape the business are having a positive impact on our results, especially for our most important North American region,” said 

Jochen Zeitz, chairman, president and CEO, Harley-Davidson.

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“We can see the initial signs of consumer excitement and optimism returning and I am confident Harley-Davidson in 2021 is a significantly leaner, faster, and more efficient organization which is ready to win and successfully deliver on our 5-year Hardwire strategy, as the most desirable motorcycle brand in the world.”

Jochen Zeitz, chairman, president and CEO, Harley-Davidson.

First Quarter 2021 Highlights.

• EPS of $1.68, up $1.23 over Q1 2020.
• Revenue up 12% due to strong retail demand for Touring motorcycles
• Significantly improved Motorcycles segment gross margin and operating margin driven by favorable mix following the Rewire product portfolio adjustments, lower sales incentives and reduced SG&A
• Increasing 2021 full-year guidance on Motorcycles segment revenue, Motorcycles segment operating margin assuming the company is able to mitigate additional EU tariffs, and Financial Services segment operating income
• Increased Q1 cash flow from operations to $163 million, up $171 million over Q1 2020
• Increasing 2021 full-year guidance on Motorcycles segment revenue, Motorcycles segment operating margin assuming the company is able to mitigate additional EU tariffs, and Financial Services segment operating income

The Livewire Specs

The Harley Livewire has had ups and downs, but it gives riders the comfort and quality of a a great Touring bike, with power, torque, battery power and all the details you want for your ride. The Livewire has a 78kW motor, right about 105 HP, and 117Nm of torque. Top speed at 94 mph (153 kph), and getting 0-60 in just 3 sec, and this is not a lightweight motorcycle at all, the bike stands at 549lb (249kg) curb weight.

All of these are impressive stats, and the Livewire won a great deal of attention as it came out and until this very day. The company is well positioning with the right personnel and technologies to increase and expend, now the time has come for H-D to further expend and execute on their plan to produce more high quality, Electric Motorcycles.

Source: Harley Davidson

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