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Harleydavidson, Inc. (HOG) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


Harley-Davidson Announces Second Quarter 2019 Results

MILWAUKEE, July 23, 2019 -
Harley-Davidson, Inc. (NYSE:HOG) today reported second quarter 2019 results. The company made progress towards its plan to build more riders through its More Roads to Harley-Davidson accelerated plan for growth and expects to substantially mitigate incremental EU and China tariffs early in the second quarter of 2020.

Second Quarter 2019 Highlights
Delivered GAAP diluted EPS of $1.23 per share
Repurchased $42.9 million of shares; paid dividends of $0.375 per share
Obtained regulatory approvals required to mitigate the majority of incremental EU tariffs
Completed key milestones in its manufacturing optimization initiative
Reduced U.S. retail motorcycle inventory, believe positioned well for cutover to model year 2020
Drove year-over-year retail sales growth of 77 percent in its ASEAN markets through Thailand manufacturing strategy
Confirmed highest ever Harley-Davidson U.S. ridership; over 3 million riders in 2018
Announced a broader access initiative for Asia with a small displacement motorcycle planned for 2020

Second quarter 2019 GAAP diluted EPS was $1.23. Year-ago GAAP diluted EPS was $1.45. Excluding restructuring plan costs and the impact of incremental tariffs, second quarter 2019 diluted EPS was $1.46 compared to $1.52 in the second quarter of 2018. Second quarter 2019 net income was $195.6 million on consolidated revenue of $1.63 billion versus net income of $242.3 million on consolidated revenue of $1.71 billion in 2018.
Harley-Davidson worldwide retail sales decreased 8.4 percent in the second quarter. U.S. retail sales were down 8.0 percent in the quarter driven largely by continued weak industry sales. Harley-Davidson international retail sales were down 8.9 percent driven by weakness in developed international markets on the lapping of strong initial sales of new models introduced last year.

“In the second quarter we achieved significant advancements under our More Roads plan and we continued to lay a solid foundation for future growth,” said Matt Levatich, president and chief executive officer, Harley-Davidson, Inc. “The decisions and investments we’re making, within a highly dynamic and competitive global marketplace, demonstrate our intense focus to build the next generation of riders and maximize shareholder value.”

Strategy to Build the Next Generation of Riders

Building riders
Harley-Davidson continues to inspire diverse, new riders around the globe. Harley-Davidson ridership in the U.S. has been up each year since 2001 and was at an all-time high of over 3 million riders in 2018. The company increased its reach and impact in the second quarter and delivered the following:
More, younger riders - U.S. rider training participation was up, with the greatest increase among 18-34 year-olds
Of total U.S. new retail sales in Q2, the mix of 18-34 year-olds was up 2.7 percentage points
Emerging market year-over-year retail sales growth of 7.6 percent was aided by more accessible pricing from local manufacturing in Thailand

More Roads to Harley-Davidson accelerated plan for growth

1

The following information was filed by Harley Davidson Inc (HOG) on Tuesday, July 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

Cover Page
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 (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisition
Acquisition (Details)
Additional Balance Sheet And Cash Flow Information
Additional Balance Sheet And Cash Flow Information - Inventories, Net (Details)
Additional Balance Sheet And Cash Flow Information - Marketable Securities (Details)
Additional Balance Sheet And Cash Flow Information - Reconciliation Of Net Income To Net Cash Used By Operating Activities (Details)
Additional Balance Sheet And Cash Flow Information (Tables)
Asset-Backed Financing
Asset-Backed Financing - Additional Information (Details)
Asset-Backed Financing - Assets And Liabilities Of Variable Interest Entities (Details)
Asset-Backed Financing - Quarterly Transfer Information (Details)
Asset-Backed Financing - Servicing Activities (Details)
Asset-Backed Financing (Tables)
Basis Of Presentation And Use Of Estimates
Basis Of Presentation And Use Of Estimates (Details)
Basis Of Presentation And Use Of Estimates (Policies)
Business Segments
Business Segments - Additional Information (Details)
Business Segments - Information By Strategic Business Units (Details)
Business Segments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt - Additional Information (Details)
Debt - Debt With A Contractual Term Greater Than One Year (Details)
Debt - Debt With Contractual Term Less Than One Year (Details)
Debt (Tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities - Derivative Instrument Fair Value (Details)
Derivative Instruments And Hedging Activities - Gain Loss On Derivative Cash Flow Hedges Reclassified From Aoci Into Income (Details)
Derivative Instruments And Hedging Activities - Gain Loss On Derivative Cash Flow Hedges Recognized In Oci (Details)
Derivative Instruments And Hedging Activities (Tables)
Earnings Per Share
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Reconciliation Of Earnings Per Share Basic And Diluted (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (Details)
Employee Benefit Plans - Components Of Net Periodic Benefit Costs (Details)
Employee Benefit Plans (Tables)
Fair Value
Fair Value - Additional Information (Details)
Fair Value - Summary Of Assets And Liabilities Measured At Fair Value (Details)
Fair Value - Summary Of Fair Value And Carrying Value Of Company Financial Instruments (Details)
Fair Value (Tables)
Finance Receivables
Finance Receivables - Additional Information (Details)
Finance Receivables - Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables (Details)
Finance Receivables - Allowance For Credit Losses And Finance Receivables By Portfolio Individually And Collectively Evaluated For Impairment (Details)
Finance Receivables - Changes In Allowance For Credit Losses On Finance Receivables (Details)
Finance Receivables - Recorded Investment Of Retail And Wholesale Finance Receivables By Credit Quality Indicator (Details)
Finance Receivables - Wholesale Finance Receivables Individually Deemed Impaired (Details)
Finance Receivables (Tables)
Finance Receivables - Finance Receivables, Net (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases - Additional Information (Details)
Leases - Future Maturities Of Lease Liabilities (Details)
Leases - Other Lease Information (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases (Tables)
New Accounting Standards
New Accounting Standards (Details)
Product Warranty And Recall Campaigns
Product Warranty And Recall Campaigns - Additional Information (Details)
Product Warranty And Recall Campaigns - Warranty And Recall Liability (Details)
Product Warranty And Recall Campaigns (Tables)
Restructuring Expenses
Restructuring Expenses - Additional Information (Details)
Restructuring Expenses - Restructuring Plan Reserve Recorded In Accrued Liabilities (Details)
Restructuring Expenses (Tables)
Revenue
Revenue - Additional Information (Details)
Revenue - Contract Liabilities (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue (Tables)
Supplemental Consolidating Data
Supplemental Consolidating Data - Balance Sheet (Details)
Supplemental Consolidating Data - Cash Flows (Details)
Supplemental Consolidating Data - Operations (Details)
Supplemental Consolidating Data (Tables)
Ticker: HOG
CIK: 793952
Form Type: 10-Q Quarterly Report
Accession Number: 0000793952-19-000042
Submitted to the SEC: Thu Aug 08 2019 6:49:15 AM EST
Accepted by the SEC: Thu Aug 08 2019
Period: Sunday, June 30, 2019
Industry: Motorcycles Bicycles And Parts

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