NOW IN OUR
33rd ! YEAR
™
AWARD WINNING VOICE OF THE GLOBAL V- TWIN CUSTOM PARTS , PERFORMANCE AND ACCESSORY INDUSTRY
H-D Q2 - Worldwide Retail Unit Sales -3 %; $ 1bn of Massive Cash Pile Will Fund Fresh Share Repurchase Plan
Accompanying its Q2 Financial Performance news release , Harley- Davidson simultaneously announced a plan to repurchase $ 1bn of its shares through 2026 . In H1 2024 , Harley spent some $ 200m to repurchase 5.5 million shares on a discretionary basis . The new plan is in addition to the existing Board authorizations . The company says it expects to fund the share repurchases " with cash flow from operations " and that " this plan replaces existing share repurchase plans and is in addition to the $ 875m in share repurchases since 2022 , that the company has [ already ] completed , to return cash to its shareholders ." Its Q2 results report that the company generated $ 578m of cash from operating activities , paid dividends of $ 47m and , as of the end of the second quarter , was sitting on an extraordinary cash and cash equivalents pile of $ 1.8bn - especially
extraordinary when judged against a market capitalization that is currently down to around $ 4.66bn . The afternoon before the release of its Q2 numbers , the H-D share price had been trading at around $ 34.50 . That is
set against a 12-month high of approx . $ 44.00 in March 2024 and a 12-month low south of $ 26.00 in October 2023 . The initial response to the Q2 numbers was mixed . A steep initial spike in share price fell away quickly , leaving shares largely unchanged at the end of the trading day despite analyst response having been largely positive . Harley-Davidson Inc . saw Q2 revenue of $ 1.619bn , up by 12 % over the year ago , $ 1.349bn of that coming from motorcycle and related sales activities in HDMC (+ 13 %), with HDFS bringing in $ 264m (+ 10 %) and LiveWire $ 6m ( -8 %). HDI generated operating income of $ 241m , up by + 9 %, Q2 diluted EPS of $ 1.63 at an HDMC operating income margin of 14.7 %. Second quarter global motorcycle shipments increased by 16 %. Revenue was up 13 %, driven by increased shipments and improved mix , partially offset by lower pricing and foreign exchange effects . Parts and Accessories revenue was down 10 %. Apparel was down 4 % as the prior year ' s period included a greater benefit from anniversary product apparel sales .
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SEPT 2024
ISSUE # 302
SHOWZONE 6,8,10,12
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AUTHENTIC
STURGIS
SBS CERTIFIED
GOOD AT
GOODWOOD
SCOUT FORGED
STURGIS TT
Inspired by Stan Dishong of Stan ' s Cycle Shop fame in Sweden , this is Ronna Noren of Unique Custom Cycles ' ' Scout Forged ' chopper style 2025 Scout - the third of Indian Motorcycle ' s Scout project custom builds ... see pages 16-17 .