HARLEY-DAVIDSON DELIVERS STRONG FULL-YEAR 2014 FINANCIAL PERFORMANCE
Diluted EPS Rises 18.3 Percent on 5.6 Percent Revenue Growth
Retail Motorcycle Sales Grow Worldwide On Strength in International Markets
MILWAUKEE, January 29, 2015 - Harley-Davidson, Inc. (NYSE:HOG) full-year 2014 diluted earnings per share increased 18.3 percent to $3.88 compared to diluted EPS of $3.28 in 2013. Net income was $844.6 million on consolidated revenue of $6.23 billion compared to full-year 2013 net income of $734.0 million on consolidated revenue of $5.90 billion. For the fourth quarter of 2014, diluted EPS increased 2.9 percent year-over-year to $0.35. Fourth quarter net income was $74.5 million on consolidated revenue of $1.20 billion compared to net income of $75.4 million on consolidated revenue of $1.19 billion in the year-ago period.
Worldwide retail sales of new Harley-Davidson motorcycles grew 2.8 percent in the fourth quarter and 2.7 percent for the full year compared to the year-ago periods, driven by strong international sales - up 9.2 percent in the fourth quarter and 5.4 percent for the full year.
“Harley-Davidson achieved a great year of financial performance in 2014, with double-digit earnings growth, revenue topping $6 billion and continued strong improvement in margins,” said Keith Wandell, Chairman, President and Chief Executive Officer of Harley-Davidson, Inc.
“We also continued to broaden our customer base and expand the reach of our brand through unrivaled products and experiences. In international markets, our dealers in Asia Pacific, EMEA and Latin America posted their highest new motorcycle sales on record for each region, delivering on our expectation for international sales to grow at a faster rate than U.S. sales. And in the U.S., for the third straight year, sales to our outreach customers grew at more than twice the rate of sales to core customers.”
“Our success is the result of a clear focus on managing the company for the long term, building on our well-established strategies and driving continuous improvement in every aspect of our business,” Wandell said.
Retail Harley-Davidson Motorcycle Sales
Dealers worldwide sold 47,149 new Harley-Davidson motorcycles in the fourth quarter of 2014, up 2.8 percent compared to 45,875 motorcycles in the year-ago quarter. In the U.S., dealers sold 26,957 new Harley-Davidson motorcycles in the quarter, down 1.6 percent compared to sales of 27,387 motorcycles in the year-ago period. In international markets, dealers sold 20,192 new Harley-Davidson motorcycles during the quarter, up 9.2 percent compared to sales of 18,488 motorcycles in the year-ago period, with unit sales up 14.2 percent in the Asia Pacific region, 8.7 percent in the EMEA region and 4.7 percent in the Latin America region, and down 5.7 percent in Canada.
For the full year 2014, dealers sold 267,999 new Harley-Davidson motorcycles worldwide, up 2.7 percent compared to 260,839 motorcycles in 2013. Retail unit sales were up 1.3 percent in the U.S., 11.8 percent in the Asia Pacific region, 6.4 percent in the EMEA region, 2.1 percent in the Latin America region and down 10.8 percent in Canada compared to full-year 2013.
The following information was filed by Harley Davidson Inc (HOG) on Thursday, January 29, 2015 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.