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Harley Davidson Inc (HOG) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


Harley-Davidson Announces First Quarter 2019 Results

MILWAUKEE, April 23, 2019 -
Harley-Davidson, Inc. (NYSE:HOG) today reported first quarter 2019 results. Company actions resulted in earnings per share and retail sales finishing stronger than expected during the quarter. The company’s More Roads to Harley-Davidson accelerated plan for growth continued to progress and delivered results.

First Quarter 2019
GAAP diluted EPS of $0.80 per share, ahead of company expectations
Encouraged by U.S. retail sales performance; Harley-Davidson U.S. market share up
Global dealer inventory down, well positioned for spring selling season
Intensified brand focus; hired President, Harley-Davidson Brand
Acquired StaCyc, a producer of electric-powered two-wheelers for kids
Broadened reach with new Electra Glide® Standard at $18,999 U.S. MSRP
Manufacturing optimization remained on-track
Thailand manufacturing strategy accelerated retail sales growth in ASEAN emerging markets
Increased dividend 1.4 percent, repurchased $52.6 million of shares

First quarter 2019 GAAP diluted EPS was $0.80. Year-ago GAAP diluted EPS was $1.03. Excluding restructuring plan costs and the impact of incremental tariffs, first quarter 2019 diluted EPS was $0.98 compared to $1.24 in the first quarter of 2018. First quarter 2019 net income was $127.9 million on consolidated revenue of $1.38 billion versus net income of $174.8 million on consolidated revenue of $1.54 billion in 2018.
Harley-Davidson worldwide retail sales decreased 3.8 percent in the first quarter. International retail sales were down 3.3 percent. U.S. retail sales were down 4.2 percent in the first quarter driven by continued weak industry sales which were down 4.7 percent. First quarter worldwide retail sales were impacted by the limited availability of Street motorcycles due to the recall we announced in January.

“We are acting with agility and discipline to take full advantage of rapidly evolving global markets. Harley-Davidson’s U.S. market share growth and retail sales performance in the first quarter are further evidence of the effects we are having as we continue to implement and dial-in our More Roads efforts,” said Matt Levatich, president and chief executive officer, Harley-Davidson, Inc. “We are driven by our un-paralleled rider focus and deep analytics that are guiding our efforts today and into the future. We, along with our dealers, are determined to lead and stimulate global industry growth.”
 
Strategy to Build the Next Generation of Riders
More Roads accelerated plan for growth
Harley-Davidson’s strategic objectives through 2027 are to: build 2 million new riders in the U.S., grow international business to 50 percent of annual volume, launch 100 new high impact motorcycles and do so profitably and sustainably.
The More Roads to Harley-Davidson accelerated plan for growth is aligned with the company’s strategy to deliver sustainable growth and build the next generation of riders by delivering exciting products in existing and new spaces, broader access to Harley-Davidson and an optimized customer experience through an even stronger dealer network. The company plans to maintain its current investment and return profile and capital allocation strategy, while it funds strategic opportunities expected to drive revenue growth and expand operating margin through 2022.


The following information was filed by Harley Davidson Inc (HOG) on Tuesday, April 23, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Harley Davidson Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Changes In Other Comprehensive Loss) (Detail)
Accumulated Other Comprehensive Loss (Tables)
Acquisition
Acquisition Acquisition (Details)
Additional Balance Sheet And Cash Flow Information
Additional Balance Sheet And Cash Flow Information (Inventories, Net) (Detail)
Additional Balance Sheet And Cash Flow Information (Marketable Securities) (Detail)
Additional Balance Sheet And Cash Flow Information (Reconciliation Of Net Income To Net Cash Used By Operating Activities) (Detail)
Additional Balance Sheet And Cash Flow Information (Tables)
Asset-Backed Financing
Asset-Backed Financing (Assets And Liabilities Of Variable Interest Entities) (Detail)
Asset-Backed Financing (Narrative) (Detail)
Asset-Backed Financing (Schedule Of Loans Acquired In Transfer Not Accounted For As Debt Securities) (Detail)
Asset-Backed Financing (Servicing Activities) (Detail)
Asset-Backed Financing (Tables)
Basis Of Presentation And Use Of Estimates
Basis Of Presentation And Use Of Estimates (Narrative) (Detail)
Basis Of Presentation And Use Of Estimates (Policies)
Business Segments
Business Segments (Information By Strategic Business Units) (Detail)
Business Segments (Narrative) (Detail)
Business Segments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Detail)
Debt
Debt (Debt With A Contractual Term Greater Than One Year) (Detail)
Debt (Debt With Contractual Term Less Than One Year) (Detail)
Debt (Tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Derivative Instrument Fair Value) (Detail)
Derivative Instruments And Hedging Activities (Gain Loss On Derivative Cash Flow Hedges Reclassified From Aoci Into Income) (Detail)
Derivative Instruments And Hedging Activities (Gain Loss On Derivative Cash Flow Hedges Recognized In Oci) (Detail)
Derivative Instruments And Hedging Activities (Tables)
Earnings Per Share
Earnings Per Share (Narrative) (Detail)
Earnings Per Share (Reconciliation Of Earnings Per Share Basic And Diluted) (Detail)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Components Of Net Periodic Benefit Costs) (Detail)
Employee Benefit Plans (Tables)
Fair Value
Fair Value (Summary Of Assets And Liabilities Measured At Fair Value) (Detail)
Fair Value (Tables)
Fair Value Fair Value (Summary Of Fair Value And Carrying Value Of Company Financial Instruments) (Detail)
Finance Receivables
Finance Receivables (Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables) (Detail)
Finance Receivables (Allowance For Credit Losses And Finance Receivables By Portfolio Individually And Collectively Evaluated For Impairment) (Detail)
Finance Receivables (Changes In Allowance For Credit Losses On Finance Receivables) (Detail)
Finance Receivables (Finance Receivables) (Detail)
Finance Receivables (Narrative) (Detail)
Finance Receivables (Recorded Investment Of Retail And Wholesale Finance Receivables By Credit Quality Indicator) (Detail)
Finance Receivables (Tables)
Finance Receivables (Wholesale Finance Receivables Individually Deemed Impaired) (Details)
Income Taxes
Income Taxes (Detail)
Leases (Notes)
Leases (Tables)
Leases Future Maturities Of Lease Liabilities (Details)
Leases Leases Narrative (Details)
Leases Supplemental Balance Sheet Information (Details)
Leases Supplemental Cash Flow Information (Details)
New Accounting Standards
New Accounting Standards (Impact Of Adoption Of Asu 2016-02) (Details)
Product Warranty And Recall Campaigns
Product Warranty And Recall Campaigns (Narrative) (Detail)
Product Warranty And Recall Campaigns (Tables)
Product Warranty And Recall Campaigns (Warranty And Recall Liability) (Detail)
Restructuring Expenses
Restructuring Expenses (Narrative) (Details)
Restructuring Expenses (Restructuring Plan Reserve Recorded In Accrued Liabilities) (Details)
Restructuring Expenses (Tables)
Revenue
Revenue (Contract Liabilities Narrative) (Details)
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Tables)
Revenue Revenue (Contract Liabilities) (Details)
Subsequent Event
Supplemental Consolidating Data
Supplemental Consolidating Data (Balance Sheet) (Detail)
Supplemental Consolidating Data (Cash Flows) (Detail)
Supplemental Consolidating Data (Operations) (Detail)
Supplemental Consolidating Data (Tables)
Ticker: HOG
CIK: 793952
Form Type: 10-Q Quarterly Report
Accession Number: 0000793952-19-000021
Submitted to the SEC: Thu May 09 2019 6:51:23 AM EST
Accepted by the SEC: Thu May 09 2019
Period: Sunday, March 31, 2019
Industry: Motorcycles Bicycles And Parts

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