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Harleydavidson, Inc. (HOG) SEC Filing 10-Q Quarterly Report for the period ending Sunday, March 28, 2021

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


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FOR IMMEDIATE RELEASE


Harley-Davidson delivers strong first quarter financial results
and raises full-year financial guidance


MILWAUKEE (April 19, 2021) –
Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today reported first quarter results.

“I am very pleased with the pace of recovery that we have seen across our business, as demonstrated by the strong financial results this quarter. The actions we have taken to reshape the business are having a positive impact on our results, especially for our most important North American region.” said Jochen Zeitz, chairman, president and CEO, Harley-Davidson.

“We can see the initial signs of consumer excitement and optimism returning and I am confident Harley-Davidson in 2021 is a significantly leaner, faster, and more efficient organization which is ready to win and successfully deliver on our 5-year Hardwire strategy, as the most desirable motorcycle brand in the world.”

First Quarter 2021 Highlights, Results and Related Guidance

Delivered Q1 GAAP diluted EPS of $1.68, up $1.23 over Q1 2020
Motorcycles and Related Products (Motorcycles) segment revenue up 12 percent amid strong retail demand for Touring motorcycles
Significantly improved Motorcycles segment gross margin and operating margin driven by favorable mix following the Rewire product portfolio adjustments, lower sales incentives and reduced SG&A
Financial Services segment Q1 2021 operating income growth of $96 million over Q1 2020 driven by a favorable adjustment to the provision for credit losses
Increased Q1 cash flow from operations to $163 million, up $171 million over Q1 2020
Increasing 2021 full-year guidance on Motorcycles segment revenue, Motorcycles segment operating margin assuming the company is able to mitigate additional EU tariffs, and Financial Services segment operating income

First Quarter 2021 Results

Harley-Davidson, Inc. Consolidated Financial Results

$ in millions (except EPS)
1st quarter
20212020Change
Revenue$1,423 $1,298 10 %
Net Income$259 $70 272 %
GAAP Diluted EPS$1.68 $0.45 273 %
Adjusted Diluted EPS$1.68 $0.45 273 %

Consolidated revenue was up 10 percent in the first quarter over Q1 2020. Bottom-line results reflect Q1 significant net income improvement with strong results in both the Motorcycles and the Financial Services segments.


The following information was filed by Harley Davidson Inc (HOG) on Monday, April 19, 2021 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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Definitive Proxy Statement (Form DEF 14A)
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Harley Davidson Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
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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 Operations
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)
Additional Balance Sheet And Cash Flow Information
Additional Balance Sheet And Cash Flow Information (Tables)
Additional Balance Sheet And Cash Flow Information - Certificates Of Deposit (Details)
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)
Asset-Backed Financing
Asset-Backed Financing (Tables)
Asset-Backed Financing - Additional Information (Details)
Asset-Backed Financing - Assets And Liabilities Of Variable Interest Entities (Details)
Asset-Backed Financing - Servicing Activities (Details)
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 (Tables)
Debt - Debt With A Contractual Term Greater Than One Year (Details)
Debt - Debt With Contractual Term Less Than One Year (Details)
Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Tables)
Derivative Financial Instruments And Hedging Activities - Amount Of Gains And Losses Recognized In Income Related To Derivative Financial Instruments (Details) (Details)
Derivative Financial Instruments And Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Derivative Instrument Fair Value (Details)
Derivative Financial Instruments And Hedging Activities - Gain Loss Recognized In Income On Hedged Derivatives (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Reconciliation Of Earnings Per Share Basic And Diluted (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Components Of Net Periodic Benefit Costs (Details)
Fair Value
Fair Value (Tables)
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)
Finance Receivables
Finance Receivables (Tables)
Finance Receivables - Additional Information (Details)
Finance Receivables - Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables (Details)
Finance Receivables - Changes In Allowance For Credit Losses On Finance Receivables (Details)
Finance Receivables - Finance Receivables, Net (Details)
Finance Receivables - Information Related To Wholesale Finance Receivables On Non-Accrual Status (Details)
Finance Receivables - Recorded Investment In Retail Finance Receivables, By Credit Quality Indicator (Details)
Finance Receivables - Recorded Investment Of Retail And Wholesale Finance Receivables By Credit Quality Indicator (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Future Maturities Of Lease Liabilities (Details)
Leases - Other Lease Information (Details)
Leases - Supplemental Balance Sheet Information (Details)
New Accounting Standards
Product Warranty And Recall Campaigns
Product Warranty And Recall Campaigns (Tables)
Product Warranty And Recall Campaigns - Additional Information (Details)
Product Warranty And Recall Campaigns - Warranty And Recall Liability (Details)
Restructuring Activities
Restructuring Activities (Tables)
Restructuring Activities - Additional Information (Details)
Restructuring Activities - Restructuring Plan Reserve Recorded In Accrued Liabilities (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Contract Liabilities (Details)
Revenue - Disaggregation Of Revenue (Details)
Subsequent Event
Subsequent Event (Details)
Supplemental Consolidating Data
Supplemental Consolidating Data (Tables)
Supplemental Consolidating Data - Balance Sheet (Details)
Supplemental Consolidating Data - Cash Flows (Details)
Supplemental Consolidating Data - Operations (Details)

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: 0000793952-21-000027
Submitted to the SEC: Thu May 06 2021 11:49:36 AM EST
Accepted by the SEC: Thu May 06 2021
Period: Sunday, March 28, 2021
Industry: Motorcycles Bicycles And Parts

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