American Motorcycle Dealer 326 September 2026 AMD 326 Sept 2026 | Page 8

Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles. news, RideApart. com, Motor1. com, Cycle World, motorbikewriter. com

NEWS

BRIEFS

Appleton Harley-Davidson in Wisconsin is using 2026 as a transition year, after a " challenging 2025 " and celebrating 50 years in business with the opening of a new, larger dealership. " We ' re celebrating our 50th anniversary this year. This gives us a nice stepping stone to get to the next 50 years of Appleton ' s history and legacy," said Joshua Doughty, whose father first opened Appleton H-D in 1976.
PSB reports that even as Yamaha Motor Co. posted record first-half financial results, the company is making one of its most significant manufacturing changes in the U. S. powersports market, announcing it will cease in-house side-by-side production at its Georgia manufacturing facility following the 2026 model year.
Aimed at Flat Track racing, Picasso Engineering( Switzerland) is introducing the new OMT450C. " This is not just a race bike, but a continuous development platform implementing the proprietary DAST( Dynamic Adaptive Stiffness Technology) system for the first time in Flat Track: a modular carbon fibre frame designed to actively adjust structural rigidity and adapt to track grip conditions. Powered by a proven Honda CRF450RX engine, the bike is currently competing at the highest level in the 2026 FIM Flat Track World Championship, with American star Sammy Halbert.
Royal Enfield ' s 125th year has been commemorated with the brand ' s historic British roots in Redditch, England seeing a ' World Origin Site ' plaque marking the legacy of Royal Enfield ' s first factory location. The site of Royal Enfield ' s original Hunt End Works is on what is now known as Enfield Road. Royal Enfield motorcycles from five generations lined Enfield Road, highlighting the brand ' s title as the oldest motorcycle brand in continuous production with a modern ' Project Origin ' replica of Royal Enfield ' s first motorcycle, launched in 1901, to a fully restored first edition 1932 Bullet, the iconic model that began Royal Enfield ' s journey to manufacturing in India and that is still in production today.
Chandler, AZ. based RideNow Group, Inc.( NASDAQ: RDNW) announced that it has joined the small-cap Russell 2000 Index and the broad-market Russell 3000 Index as part of the 2026 reconstitution of the Russell US Indexes.
<<< Continued from cover
Mexico and a modest decline in Brazil. Revenue was up 6 % driven by increased shipments and favorable foreign exchange effects, partially offset by net pricing. Parts & Accessories revenue was down-5 % with Apparel & Licensing revenue was up 2 %. Net Income attributable to HDI of $ 80m, down by-26 % from the prior year " primarily due to the HDFS transition to its ' capital light ' model; this was partially offset by the HDMC improvement in revenue of $ 1.1bn, up 6 % vs. prior year. The HDMC Adjusted EBITDA margin of 10.4 % was up from 9.3 % in Q2 2025, with the HDFS operating income margin of 18.5 % down from 27.1 % in Q2 2025. The company says it delivered diluted Earnings Per Share( EPS) of $ 0.75, down 15 % vs. prior year and that the Q2 performance enabled raising the company ' s FY 2026 guidance for retail sales and wholesale shipments as well as HDMC & HDFS operating income. Second quarter gross margin came in at 27.5 %, which was down 108 basis points versus prior year. Gross profit was impacted favorably by manufacturing and other costs, including a tariff recovery that benefited gross profit. The favorability was offset by unfavorable product mix, net pricing, raw materials, and foreign exchange effects. Operating expenses came in $ 6m lower than a year ago, at $ 232m, including a restructuring expense of $ 3m. In the second quarter, HDFS revenue was down-55 % from prior year, driven by lower retail finance receivables. The decline in retail receivables was due to the sale of loan assets that took place in the second half of 2025. Other income within HDFS revenue was favorable year-over-year due to new servicing fees. HDFS operating income came in at $ 22m in the second quarter, a decrease of $ 48m or 69 % from the prior year period. On the expense side, both interest expense and the provision for credit loss expense were significantly lower, which was due to the decreased size of the retail loan portfolio and related debt on a yearover-year basis. HDFS operating expenses increased by $ 3m versus prior year. Total quarterend net finance receivables, including both retail and wholesale loans, were $ 2.6bn, a 64 % decline compared to the prior year primarily due to the sale of loan assets that took place in the second half of 2025. LiveWire – revenue for the second quarter increased by 52 %. The
Harley-Davidson, Inc. Consolidated Financial Results
2ND QUARTER
$ in millions( except EPS)
2026
2025
Change
Revenue
$ 1,230
$ 1,307
-6 %
Operating Income
$ 76
$ 112
-32 %
Net Income Attributable to HDI
$ 80
$ 108
-26 %
Diluted EPS
$ 0.75
$ 0.88
-15 %
Harley-Davidson Motor Company( HDMC)
2ND QUARTER
$ in millions( except units)
2026
2025
Change
Motorcycle Shipments( thousands)
39.2
35.8
9 %
Revenue
$ 1,104
$ 1,044
6 %
Motorcycles
$ 848
$ 778
9 %
Parts & Accessories
$ 177
$ 187
-5 %
Apparel & Licensing
$ 62
$ 61
2 %
Other
$ 17
$ 18
-4 %
Gross Margin
27.5 %
28.6 %
-1.1 pts.
Operating Income
$ 72
$ 61
18 %
Operating Margin
6.6 %
5.9 %
0.7 pts
Harley-Davidson Retail Motorcycle Sales
2ND QUARTER
Motorcycles( thousands)
2026
2025
Change
North America
29.8
28.9
3 %
EMEA
7.0
7.6
-9 %
Asia Pacific
5.0
5.0
0 %
Latin America
0.8
0.7
4 %
Worldwide Total
42.5
42.3
1 %
Harley-Davidson Financial Services( HDFS)
2ND QUARTER
$ in millions
2026
2025
Change
Revenue
$ 117
$ 257
-55 %
Operating Income
$ 22
$ 70
-69 %
LiveWire
2ND QUARTER
$ in millions
2026
2025
Change
Revenue
$ 9
$ 6
52 %
Operating Loss
($ 18)
($ 19)
4 %
Adjusted EBITDA
($ 15)
($ 16)
5 %
revenue increase was due to higher electric motorcycle unit sales and higher STACYC electric balance bike sales. LiveWire ' s operating loss of $ 18m in the second quarter compared to a loss of $ 19m in the prior year period. LiveWire operating loss of $ 70 to $ 80m. Harley-Davidson, Inc. capital investments of $ 175m to $ 200m. For the first half of 2026 net cash use of $ 60m from operating activities with an effective tax rate of 25 %. The company paid cash dividends of $ 41m and repurchased $ 158m of shares( 7.9 million shares) on a discretionary basis. Cash and cash equivalents were $ 1.9bn as of June 30. For the full year 2026, the Company is
revising its financial guidance and now expects HDMC global motorcycle retail sales of 133,500 to 138,500 units from a previously expected range of 130,000 to 135,000 units and HDMC global motorcycle wholesale shipments of 133,500 to 138,500 units from a previously expected range of 130,000 to 135,000 units HDMC operating income is now forecast to be in the range of $ 10m to $ 50m, increased from a previously expected range of a $ 40m loss to a $ 10m profit. HDFS operating income is now forecast to be in the range $ 55m to $ 70m from a previously expected range of $ 45m to $ 60m.
8 AMERICAN MOTORCYCLE DEALER- SEPTEMBER 2026 www. AMDmag. com