Harley-Davidson, Inc. (HOG) reported second-quarter earnings of 75 cents per share on July 26, 2026, exceeding the Zacks Consensus Estimate of 62 cents by 21%. However, earnings fell 15% from 88 cents in the prior year. Revenues from the Harley-Davidson Motor Company rose 6% year-over-year to $1.10 billion but fell short of the $1.12 billion consensus estimate. Consolidated revenues declined 6% to $1.23 billion, largely due to a sharp drop in Harley-Davidson Financial Services.
Worldwide motorcycle shipments increased 9% to 39,209 units, with retail motorcycle sales rising 1% to 42,467 units. North American retail sales saw a 3% increase to 29,751 units, continuing a trend of growth in the company’s core market. The company revised its full-year outlook for motorcycle retail sales to a range of 133,500-138,500 units, up from 130,000-135,000 units.
Harley-Davidson’s cash and equivalents as of June 30, 2026, stood at $1.90 billion, down from $3.1 billion at the end of 2025. The company returned $50 million to shareholders in Q2 through share repurchases and dividends. Operating cash outflow totaled $59 million for the first half of 2026, while free cash outflow reached $104 million.
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