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Harleydavidson, Inc. (HOG) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 29, 2019

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


Harley-Davidson Announces Third Quarter 2019 Results

MILWAUKEE, October 22, 2019 -
Harley-Davidson, Inc. (NYSE:HOG) today reported third quarter 2019 results. During the quarter, the company delivered earnings per share and Motorcycles segment operating margin ahead of expectations. The company was encouraged by global retail sales results driven by its actions and tempered U.S. industry rate of decline. The company also advanced its brand amplification efforts and developed capabilities to invigorate the Harley-Davidson experience and build committed riders.

Third Quarter 2019 Highlights

Delivered GAAP diluted EPS of $0.55
Repurchased $112.5 million of shares; paid dividends of $0.375 per share
Improved worldwide year-over-year retail sales rate
Launched new model year 2020 motorcycles, including Low Rider® S, CVO™ Tri Glide® and LiveWire™ - the company’s first electric motorcycle
Introduced the Harley-Davidson IRONe™ electric-powered two-wheelers for kids
Realized significant savings from manufacturing optimization initiative
Progressed More Roads to Harley-Davidson accelerated plan for growth
Activated Amplify Brand as fourth More Roads growth catalyst to build committed riders

Third quarter 2019 GAAP diluted EPS was $0.55. Year-ago GAAP diluted EPS was $0.68. Excluding restructuring plan costs and the impact of recent EU and China tariffs, adjusted third quarter 2019 diluted EPS was $0.70 compared to $0.82 in the third quarter of 2018. Third quarter 2019 net income was $86.6 million on consolidated revenue of $1.27 billion versus net income of $113.9 million on consolidated revenue of $1.32 billion in 2018.
Harley-Davidson international retail sales were up 2.7 percent. The U.S. retail sales rate of decline tempered compared to recent quarters and was down 3.6 percent.

“We are driving stability in our business and bringing data insights and intensified consumer focus to guide our efforts to build committed riders and meet our near and long-term objectives,” said Matt Levatich, president and chief executive officer of Harley-Davidson. “We’ll continue to fuel all aspects of the riding experience and add new solutions to fully develop, engage and retain riders through their journey, starting with the very first spark of interest” said Levatich.

Strategy to Build the Next Generation of Riders

Building committed riders
During the quarter, Harley-Davidson sharpened its U.S. and international objectives through 2027 to better align with its expanded efforts to build committed riders.

Harley-Davidson’s strategic objectives through 2027 are: expand to 4 million total Harley-Davidson riders in the U.S., grow international business to 50 percent of annual HDMC revenue, launch 100 new high impact motorcycles and do so profitably and sustainably.

Accelerated plan for growth
More Roads to Harley-Davidson is the company’s accelerated plan for growth that drives the company’s strategy to deliver sustainable growth and build the next generation of riders from 2018 through 2022. The company is focusing investment and building new capabilities to invigorate the Harley-Davidson brand to spark passion that deepens rider commitment. To reflect this, Amplify Brand was added as a growth catalyst in the More Roads plan and will bolster the other growth catalysts of New Products, Broader Access and Stronger Dealers.
The company plans to maintain its investment and return profile and capital allocation strategy, while it funds strategic opportunities expected to drive revenue growth and expand operating margin, through 2022.
During the third quarter, Harley-Davidson continued to advance its More Roads plan initiatives:

Realized improvements in retail sales, service revenue and website visits for dealers participating in Harley-Davidson performance consulting
Strengthened its leadership in the electrification of motorcycles

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The following information was filed by Harley Davidson Inc (HOG) on Tuesday, October 22, 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
Consolidated Statements Of Shareholders' Equity (Parenthetical)
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 (Details)
Business Segments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
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 - Finance Receivables, Net (Details)
Finance Receivables - Recorded Investment Of Retail And Wholesale Finance Receivables By Credit Quality Indicator (Details)
Finance Receivables (Tables)
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)

Material Contracts, Statements, Certifications & more

Harley Davidson Inc provided additional information to their SEC Filing as exhibits

Ticker: HOG
CIK: 793952
Form Type: 10-Q Quarterly Report
Accession Number: 0000793952-19-000050
Submitted to the SEC: Thu Nov 07 2019 6:41:30 AM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Sunday, September 29, 2019
Industry: Motorcycles Bicycles And Parts

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