Harley-Davidson, Inc. reported a decline in financial performance for the fiscal year ending December 31, 2025, with net income attributable to the company falling to $338.7 million, or $2.78 per diluted share, compared to $455.4 million, or $3.44 per diluted share, in 2024. The company's consolidated operating income decreased by $30 million to $386.6 million, primarily due to unfavorable results in the Harley-Davidson Motor Company (HDMC) segment, which experienced an operating loss of $28.7 million compared to an operating income of $277.8 million in the previous year. This downturn was attributed to a 12.4% decrease in worldwide dealer retail unit sales of new Harley-Davidson motorcycles, driven by a challenging macroeconomic environment characterized by high interest rates and depressed consumer sentiment.
In terms of revenue, Harley-Davidson's total revenue for 2025 was $4.47 billion, down from $5.19 billion in 2024. The HDMC segment generated $3.58 billion in revenue, a 13.2% decrease from the previous year, while the LiveWire segment, focused on electric motorcycles, reported $25.7 million in revenue, a slight decline from $26.4 million in 2024. The Harley-Davidson Financial Services (HDFS) segment, however, saw a significant increase in operating income to $490.4 million, up from $248.4 million in 2024, largely due to a transaction involving the sale of retail finance receivables.
Operationally, Harley-Davidson's motorcycle shipments totaled 124,477 units in 2025, reflecting a 16.4% decrease from 2024. The company also reported a decline in market share, with its U.S. market share for new 601+cc motorcycle registrations dropping to 34.5% from 37.3% in 2024. The company’s global workforce stood at approximately 5,500 employees as of December 31, 2025, with 80.6% based in the U.S. The company continues to focus on enhancing its product offerings, including plans to launch a new small displacement motorcycle and two concept mini-motorcycles in 2026.
Looking ahead, Harley-Davidson anticipates wholesale shipments and worldwide dealer retail sales of motorcycles to range between 130,000 and 135,000 units in 2026. The company expects to face continued challenges in the retail environment, which may lead to lower production levels and operating margins. The company is also in the process of developing a new strategic plan, following the appointment of a new CEO in October 2025, with an announcement expected in the second quarter of 2026. The company aims to achieve cost savings of at least $150 million at its HDMC and HDFS segments compared to its current cost base, as it navigates the evolving market landscape.
About HARLEY-DAVIDSON, INC.
Harley-Davidson, Inc. designs, manufactures, and sells heavyweight motorcycles, parts, accessories, and apparel globally. It operates through segments including Harley-Davidson Motor Company, LiveWire electric motorcycles, and Harley-Davidson Financial Services. The company emphasizes brand desirability, innovation, and lifestyle experiences, serving motorcycle enthusiasts worldwide. Its business model combines premium product offerings, dealer networks, licensing, and financial services to drive long-term growth and customer engagement.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.