NYSE$HOG
Harley-Davidson Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Harley-Davidson's first quarter results were delivered, showing revenue growth driven by global motorcycle pricing and growth across Parts & Accessories and Apparel.
Harley-Davidson reported a 5% increase in consolidated revenue, driven by HDMC revenue growth of 6%. The company reaffirms its full-year 2022 outlook. GAAP diluted EPS was $1.45, and the company repurchased $248 million of shares.
- HDMC revenue growth of 6 percent driven by global motorcycle pricing and growth across Parts & Accessories and Apparel
- HDMC Operating Income margin of 15.6%, which was down 2.9 points versus last year
- GAAP diluted EPS of $1.45; repurchased $248 million of shares (or 6.2 million shares) on a discretionary basis in Q1
- Company reaffirms its full-year 2022 outlook
Headline financials
Revenue & EPS history
Harley-Davidson · Revenue · Quarterly
$1.5B
Revenue by segment
Harley-Davidson · $1.3B total across 5 segments · Q1 2022
- Motorcycles$1.06B+4.2%81.3%
- Parts & Accessories$166M+10.7%12.7%
- Apparel$51M+2.0%3.9%
- Other HDMC$21M+110.0%1.6%
- Licensing$6M+0.0%0.5%
Forward guidance
For the full year 2022, the Company reaffirms its initial guidance and continues to expect: HDMC revenue growth of 5 to 10%, HDMC operating income margin of 11 to 12%, HDFS operating income to decline by 20 to 25%, and Capital investments of $190 million to $220 million.
Tailwinds
- HDMC revenue growth of 5 to 10%
- HDMC operating income margin of 11 to 12%
- Capital investments of $190 million to $220 million
- The outlook assumes that logistics and manufacturing moderately improve in the back-half the year
- Company’s cash allocation priorities are to fund growth through The Hardwire initiatives, pay dividends, and execute discretionary share repurchases.
Headwinds
- HDFS operating income to decline by 20 to 25%
- The outlook assumes semi-conductor supply stabilizes
- Company now expects raw material inflation to continue through the balance of the fiscal year.
- HDMC Operating Income margin of 15.6%, which was down 2.9 points versus last year
- Operating income decline of 16 percent is a result of higher supply chain inflation, production challenges due to semi-conductor availability and HDFS losses returning to normalized levels following record lows in 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+1.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+1.6%
Avg return
30 days after
57%
41 / 72 earnings
Positive
+28.6%
Q1 2020
Best reaction
-17.8%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | +9.4% | +5.0% | |
| Q4 2025 | +4.0% | +1.4% | -10.8% | |
| Q3 2025 | -6.6% | -5.6% | -12.5% | |
| Q1 2025 | +2.8% | +4.0% | +8.0% | |
| Q4 2024 | -1.6% | -3.9% | -2.7% | |
| Q3 2024 | -6.7% | -4.4% | -1.7% | |
| Q2 2024 | +8.7% | +13.3% | +12.6% | |
| Q1 2024 | -11.9% | -12.8% | -10.7% | |
| Q4 2023 | +6.7% | +6.5% | +11.4% | |
| Q3 2023 | -9.2% | -6.8% | +5.8% | |
| Q2 2023 | +2.8% | +2.3% | -11.0% | |
| Q1 2023 | +0.5% | -1.3% | -10.7% | |
| Q4 2022 | +9.8% | +7.5% | +1.7% | |
| Q3 2022 | +12.2% | +15.8% | +28.5% | |
| Q2 2022 | +10.2% | +6.9% | +16.6% | |
| Q1 2022 | +1.6% | +0.4% | -0.4% | |
| Q4 2021 | +20.0% | +15.5% | +7.4% | |
| Q3 2021 | +4.3% | +12.2% | +5.4% | |
| Q2 2021 | -8.6% | -6.8% | -9.7% | |
| Q1 2021 | +14.4% | +18.9% | +21.2% | |
| Q4 2020 | -17.8% | -16.1% | -12.5% | |
| Q3 2020 | +16.8% | +13.4% | +41.3% | |
| Q2 2020 | -3.6% | -11.1% | -3.9% | |
| Q1 2020 | +28.6% | +7.7% | +23.8% | |
| Q4 2019 | -2.9% | -4.1% | -10.5% | |
| Q3 2019 | +6.7% | +6.2% | -3.5% | |
| Q2 2019 | +4.1% | +4.7% | -6.7% | |
| Q1 2019 | -4.9% | -6.6% | -13.7% | |
| Q4 2018 | -0.4% | +0.1% | +1.4% | |
| Q3 2018 | -2.6% | -7.1% | +3.5% | |
| Q2 2018 | +8.8% | +7.1% | +3.1% | |
| Q1 2018 | +3.2% | +2.0% | +2.0% | |
| Q4 2017 | -12.4% | -14.1% | -18.4% | |
| Q3 2017 | +3.1% | +6.3% | +3.3% | |
| Q2 2017 | -6.2% | -7.2% | -9.4% | |
| Q1 2017 | -5.0% | -6.0% | -11.2% | |
| Q4 2016 | -2.3% | -2.5% | +1.2% | |
| Q3 2016 | +10.2% | +13.4% | +16.9% | |
| Q2 2016 | +4.6% | +1.7% | +3.9% | |
| Q1 2016 | -0.0% | — | — | |
| Q4 2015 | +6.7% | — | — | |
| Q3 2015 | -16.1% | — | — | |
| Q2 2015 | +6.7% | — | — | |
| Q1 2015 | -9.0% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +6.1% | — | — | |
| Q2 2014 | -3.7% | — | — | |
| Q1 2014 | +6.2% | — | — | |
| Q4 2013 | -3.7% | — | — | |
| Q3 2013 | -2.4% | — | — | |
| Q2 2013 | -0.9% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | +6.5% | — | — | |
| Q2 2012 | -4.7% | — | — | |
| Q1 2012 | +5.0% | — | — | |
| Q4 2010 | +0.5% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q2 2011 | -7.0% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q3 2010 | +6.4% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q1 2009 | -4.3% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q4 2007 | +1.6% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q3 2009 | -5.3% | — | — | |
| Q3 2008 | -5.3% | — | — | |
| Q4 2008 | +4.7% | — | — | |
| Q2 2008 | +4.7% | — | — | |
| Q2 2009 | +4.7% | — | — |
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