Media Contact: Bob Klein (414) 343-8664
Financial Contact: Amy Giuffre (414) 343-8002
HARLEY-DAVIDSON DELIVERS CONTINUED GROWTH FOR FOURTH QUARTER and FULL YEAR
Full-Year EPS Rises 20.6% on 5.7% Revenue Growth
New Harley-Davidson Motorcycle Retail Sales Grow 5.7% Worldwide in Fourth Quarter
and 4.4% for Full Year
MILWAUKEE, Jan. 30, 2014 - Harley-Davidson, Inc. (NYSE:HOG) earnings and dealer new motorcycle sales continued their growth in the fourth quarter of 2013 and for the full year, compared to the year-ago periods.
Fourth-quarter diluted earnings per share increased 9.7% to $0.34, primarily on strong operating results in the Motorcycles segment, including higher revenue and lower operating expense, compared to the year-ago period. Fourth-quarter net income was $75.4 million on consolidated revenue of $1.19 billion, compared to net income of $70.6 million on consolidated revenue of $1.17 billion in the year-ago period.
Worldwide retail sales of new Harley-Davidson motorcycles grew 5.7% in the quarter and 4.4% for the full year, compared to the year-ago periods.
For the full year 2013, Harley-Davidson net income was $734.0 million on consolidated revenue of $5.90 billion, compared to full-year 2012 net income of $623.9 million on consolidated revenue of $5.58 billion. Full-year 2013 diluted earnings per share were $3.28, up 20.6% from EPS of $2.72 in 2012.
“Without question 2013 was an outstanding year for Harley-Davidson. We unveiled game-changing motorcycles like Project Rushmore and Street, launched surge manufacturing, celebrated our 110th anniversary with customers around the globe and delivered continued financial growth,” said Keith Wandell, Chairman, President and Chief Executive Officer of Harley-Davidson, Inc.
“Harley-Davidson has been relentless at driving improvements throughout the organization that enable us to design, build and deliver motorcycles with unprecedented speed, efficiency, safety and quality. Together with our dealers, we continue to broaden our customer base and inspire riders to experience our brand. In 2013, retail sales of new Harley-Davidson motorcycles to outreach customers in the U.S. grew at more than twice the rate of sales growth to core customers, and we continued to expand the reach of our brand in international markets.
“None of these results would be possible without the great efforts of our employees, dealers and suppliers, working as one team and moving in one direction to fulfill customers’ dreams,” said Wandell. “Moving forward, we believe we are well positioned to leverage our momentum, expand our reach among new and existing customers, and further strengthen Harley-Davidson’s position as one of the world’s leading brands.”
Retail Harley-Davidson Motorcycle Sales
Dealers worldwide sold 45,875 new Harley-Davidson motorcycles in the fourth quarter of 2013, compared to 43,405 motorcycles in the year-ago quarter. In the U.S., dealers sold 27,387 new Harley-Davidson motorcycles in the quarter, up 6.3% compared to sales of 25,753 motorcycles in the year-ago period. In international markets, dealers sold 18,488 new Harley-Davidson motorcycles during the quarter, up 4.7% compared to 17,652 motorcycles in the year-ago period, with unit sales up 6.1% in the Asia Pacific region, 5.5% in the EMEA region and 13.3% in Canada, and down 2.8% in the Latin America region.
For the full year 2013, dealers sold 260,839 new Harley-Davidson motorcycles worldwide, compared to 249,849 motorcycles in 2012, with retail unit sales up 4.4% in the U.S., 9.8% in the Asia Pacific region, 13.1% in the Latin America region and 4.6% in Canada, and down 1.0% in the EMEA region, compared to the full year 2012.
The following information was filed by Harley Davidson Inc (HOG) on Thursday, January 30, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.