Harley-Davidson Delivers Second Quarter Financial Results and Announces HDFS Transaction with KKR and PIMCO

, /PRNewswire/ -- Harley-Davidson, Inc. ("Harley-Davidson," "HDI," or the "Company") (NYSE: HOG) today reported second quarter 2025 results and announced a transaction entered into by its subsidiary, Harley-Davidson Financial Services. "While our second quarter results continue to be impacted by a challenging commercial environment for discretionary products and an uncertain tariff situation, we are extremely pleased to announce a strategic partnership for HDFS with KKR and PIMCO that generates significant value for Harley-Davidson on all levels," said Jochen Zeitz, Chairman, President and CEO, Harley-Davidson. "Our strategic partners have valued the HDFS business at approximately 1.75x post transaction book value. We expect this will unlock $1.25 billion in cash and leaves HDFS well positioned to serve our customers and dealers. With the cash from the transaction, we plan to reduce our debt by $450 million and accelerate our $1 billion share buyback program announced last year, by the purchase of $500 million in the second half of '25. We also have the flexibility to invest up to $300 million of additional funds into future growth opportunities." Second Quarter 2025 Highlights and Results Delivered diluted EPS of $0.88 HDMC operating income margin of 5.9% HDMC revenue down 23% year-over-year Global motorcycle shipments decreased 28%, due primarily to planned dealer inventory reduction and soft demand Global motorcycle retail sales down 15% year-over-year Global dealer inventories down 28%, compared to Q2 '24, as we continued to prioritize reducing global dealer inventory The cost of new or increased tariffs implemented in 2025 was $13 million in Q2 '25 HDFS operating income margin of 27.1% HDFS Transaction Key Highlights Our strategic partners have valued the HDFS business at approximately 1.75x post transaction book value HDFS has agreed to sell a 4.9% common equity interest to investment vehicles managed by KKR and PIMCO HDFS will sell approximately two-thirds of HDFS future retail loan originations at a premium on an annual basis for five years The transaction unlocks $1.25 billion in discretionary cash, representing approximately 40% of current Harley-Davidson market capitalization HDFS has agreed to sell over $5 billion of existing gross consumer retail loan receivables and residual interests in securitized consumer loan receivables at a premium HDFS expects to use a portion of the proceeds to reduce indebtedness to optimize its post transaction capital structure Second Quarter 2025 Results Harley-Davidson, Inc. Consolidated Financial Results $ in millions (except EPS) 2nd quarter 2025 2024 Change Revenue $1,307 $1,619 -19 % Operating Income $112 $241 -53 % Net Income Attributable to HDI $108 $218 -51 % Diluted EPS $0.88 $1.63 -46 % Consolidated revenue in the second quarter was down 19 percent versus prior year, driven largely by an HDMC revenue decrease of 23 percent. Consolidated operating income in the second quarter was down 53 percent, driven largely by a decline of 69 percent at HDMC. At the LiveWire segment, the operating loss improved by $10 million, which was 34 percent lower than the prior year's loss. Consolidated operating income margin in the second quarter of 2025 was 9 percent relative to 15 percent in the second quarter a year ago. Harley-Davidson Motor Company (HDMC) – Results $ in millions 2nd quarter 2025 2024 Change Motorcycle Shipments (thousands) 35.8 49.7 -28 % Revenue $1,044 $1,349 -23 % Motorcycles $778 $1,069 -27 % Parts & Accessories $187 $194 -4 % Apparel $55 $63 -13 % Licensing $6 $5 8 % Other $18 $17 0 % Gross Margin 28.6 % 32.1 % -3.5 pts. Operating Income $61 $198 -69 % Operating Margin 5.9 % 14.7 % -8.8 pts. Second quarter global motorcycle shipments decreased 28 percent versus prior year. Revenue was down 23 percent driven primarily by the planned decrease in wholesale shipments, partially offset by favorable global pricing and favorable foreign currency. Parts & Accessories revenue was down 4 percent and Apparel revenue was down 13 percent. Second quarter gross margin was down 3.5 points, versus prior year, due to the negative impact of lower volume on operating leverage and due to the cost of new or increased tariffs implemented this year, partially offset by favorable foreign currency, favorable pricing, and favorable mix. Second quarter operating income margin was down 8.8 points due to the factors above, while operating expense was $2 million higher than a year ago. Harley-Davidson Retail Motorcycle Sales Motorcycles (thousands) 2nd quarter 2025 2024 Change North America 28.9 34.8 -17 % EMEA 7.6 8.0 -5 % Asia Pacific 5.0 6.3 -21 % Latin America 0.7 0.8 -11 % Worldwide Total 42.3 50.0 -15 % Global retail motorcycle sales in the second quarter were down 15 percent versus the prior year, reflecting soft demand and unfavorable consumer confidence due to a high-interest rate environment and an uncertain economic outlook. North America retail performance was down 17 percent, reflecting lower than expected customer traffic at dealerships. EMEA retail performance was down 5 percent, with puts and takes throughout the region. APAC retail performance was down 21 percent, with significant weakness in China and Japan. Latin America experienced modest declines. Harley-Davidson Financial Services (HDFS) – Results $ in millions 2nd quarter 2025 2024 Change Revenue $257 $264 -2 % Operating Income $70 $71 -2 % HDFS' operating income decreased by less than $2 million in the second quarter or 2 percent versus prior year. This was due to lower net interest income and higher operating expenses, partially offset by a lower provision for credit losses and higher other income, as financing receivables declined modestly. Interest expense in the second quarter was largely flat. Total quarter ending financing receivables were $7.3 billion, which was down 9 percent versus prior year, due to a decrease in retail loan receivables and commercial finance receivables. LiveWire – Results $ in millions 2nd quarter 2025 2024 Change Electric Motorcycle Unit Sales 55 158 -65 % Revenue $6 $6 -7 % Operating Loss ($19) ($28) 34 % LiveWire revenue for the second quarter decreased by 7 percent versus prior year, due to lower electric motorcycle unit sales. LiveWire's operating loss of $19 million, $10 million less than a year ago, was in line with expectations. Harley-Davidson, Inc. Other Results – YTD through end of Q2 Generated $509 million of cash from operating activities Effective tax rate was 23% Paid cash dividends of $45 million Repurchased $87 million of shares (3.4 million shares) on a discretionary basis; no shares purchased in Q2 2025 Cash and cash equivalents of $1.6 billion at the end of the quarter 2025 Financial Outlook On May 1, 2025, due to the uncertain global tariff situation and overall macroeconomic conditions, we withdrew our full year 2025 financial outlook that had been provided on February 5, 2025. Given that the global tariff and business outlook especially for discretionary product purchases remains uncertain, we continue to withhold our full year HDMC 2025 financial outlook. For LiveWire, we are updating our previously issued guidance related to Operating Loss to $59-$69 million and a total cash use of $50-$60 million. Based on the HDFS transaction, we now expect HDFS operating income of $525-550 million for full year 2025. Company Background Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Our ambition is to maintain our place as the most desirable motorcycle brand in the world. Since 1903, Harley-Davidson has defined motorcycle culture by delivering a motorcycle lifestyle with distinctive and customizable motorcycles, experiences, motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get riders on the road. Harley-Davidson also has a controlling interest in LiveWire Group, Inc., the first publicly traded all-electric motorcycle company in the United States. LiveWire is the future in the making for the pursuit of urban adventure and beyond. Drawing on its DNA as an agile disruptor from the lineage of Harley-Davidson and capitalizing on a decade of learnings in the EV sector, LiveWire's ambition is to be the most desirable electric motorcycle brand in the world. Learn more at harley-davidson.com and livewire.com. Webcast Harley-Davidson will discuss its financial results, the HDFS transaction, and outlook on an audio webcast at 8:00 a.m. CDT today. The webcast login and supporting slides can be accessed at http://investor.harley-davidson.com/news-and-events/events-and-presentations. The audio replay will be available by approximately 10:00 a.m. CDT. Cautionary Note Regarding Forward-Looking Statements The Company intends that certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by reference to this footnote or because the context of the statement will include words such as the Company "believes," "anticipates," "expects," "plans," "projects," "may," "will," "estimates," "targets," "intends," "forecasts," "seeks," "sees," "should," "feels," "commits," "assumes," "envisions," or words of similar meaning. Similarly, statements that describe or refer to future expectations, future plans, strategies, objectives, outlooks, targets, guidance, commitments or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this press release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are only made as of the date of this press release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the Company's ability to: (a) execute its business plans and strategies, including without limitation the Hardwire strategic plan, each of the pillars, and the evolution of LiveWire as a standalone brand; (b) manage supply chain and logistics issues, including without limitation quality issues, unexpected interruptions or price increases caused by supplier volatility, raw material shortages, inflation, war or other hostilities, including the conflict in Ukraine, or natural disasters and longer shipping times and increased logistics costs; (c) manage and predict the impact that new, reinstated or adjusted tariffs may have on the Company's ability to sell products domestically and internationally, and the cost of raw materials and components, including tariffs recently imposed or that may be imposed by the U.S. on foreign goods or rebalancing or other tariffs recently imposed or that may be imposed by foreign countries on U.S. goods; (d) accurately analyze, predict and react to changing market conditions, interest rates, and geopolitical environments, and successfully adjust to shifting global consumer needs and interests; (e) accurately predict the margins of its segments in light of, among other things, tariffs, rebalancing trade measures, inflation, foreign currency exchange rates, the cost associated with product development initiatives and the Company's complex global supply chain; (f) maintain and enhance the value of the Harley-Davidson brand, including detecting and mitigating or remediating the impact of activist collective actions, such as calls for boycotts and other brand-damaging behaviors that could harm the Company's brand or business; (g) manage through changes in general economic and business conditions, including changing capital, credit and retail markets, and the changing domestic and international political environments, including as a result of the conflict in Ukraine; (h) successfully access the capital and/or credit markets on terms that are acceptable to the Company and within its expectations; (i) successfully carry out its global manufacturing and assembly operations; (j) develop and introduce products, services and experiences on a timely basis that the market accepts, that enable the Company to generate desired sales levels and that provide the desired financial returns, including successfully implementing and executing plans to strengthen and grow its leadership position in Grand American Touring, large Cruiser and Trike, and grow its complementary businesses; (k) perform in a manner that enables the Company to benefit from market opportunities while competing against existing and new competitors; (l) manage the impact that prices for and supply of used motorcycles may have on its business, including on retail sales of new motorcycles; (m) prevent, detect and remediate any issues with its motorcycles, or any issues associated with the manufacturing processes to avoid delays in new model launches, recall campaigns, regulatory agency investigations, increased warranty costs or litigation and adverse effects on its reputation and brand strength, and carry out any product programs or recalls within expected costs and timing; (n) successfully manage and reduce costs throughout the business; (o) continue to develop the capabilities of its distributors and dealers, effectively implement changes relating to its dealers and distribution methods, including the Company's dealer footprint, and manage the risks that its dealers may have difficulty obtaining capital and managing through changing economic conditions and consumer demand; (p) realize the expected business benefits from LiveWire operating as a separate public company, which may be affected by, among other things: (i) the ability of LiveWire to execute its plans to develop, produce, market and sell its electric vehicles; (ii) the demand for and consumer willingness to adopt two- and three-wheeled electric vehicles; and (iii) other risks and uncertainties indicated in documents filed with the SEC by the Company or LiveWire Group, Inc., including those risks and uncertainties noted in Risk Factors under Item 1.A of LiveWire Group Inc.'s most recent Annual Report on Form 10-K; (q) manage the quality and regulatory non-compliance issues relating to the brake hose assemblies provided to the Company by Proterial Cable America, Inc. in a manner that avoids future quality or non-compliance issues and additional costs or recall expenses that are material; (r) maintain a productive relationship with Hero MotoCorp as a distributor and licensee of the Harley-Davidson brand name; (s) successfully maintain or achieve a manner in which to sell motorcycles in Europe, China, and the Company's Association of Southeast Asian Nations (ASEAN) countries that does not subject its motorcycles to incremental tariffs; (t) manage its Thailand corporate and manufacturing operation in a manner that allows the Company to avail itself of preferential free trade agreements and duty rates, and sufficiently lower prices of its motorcycles in certain markets; (u) retain and attract talented employees and leadership and qualified and experienced independent directors for its Board of Directors, eliminate personnel duplication, inefficiencies and complexity throughout the organization, and successfully complete transitions of executives, including the Company's upcoming CEO transition; (v) accurately estimate and adjust to fluctuations in foreign currency exchange rates, interest rates and commodity prices; (w) manage the credit quality, the loan servicing and collection activities, and the recovery rates of Harley-Davidson Financial Services' loan portfolio; (x) prevent a ransomware attack or cybersecurity incidents and data privacy breaches and respond to related evolving regulatory requirements; (y) adjust to tax reform, healthcare inflation and reform and pension reform, and successfully estimate the impact of any such reform on the Company's business; (z) manage through the effects inconsistent and unpredictable weather patterns may have on retail sales of motorcycles; (aa) implement and manage enterprise-wide information technology systems, including systems at its manufacturing facilities; (bb) manage changes, prepare for, and respond to evolving requirements in legislative and regulatory environments related to its products, services and operations, including increased environmental, safety, emissions or other regulations; (cc) manage its exposure to product liability claims in a manner that avoids or successfully mitigates the impact of substantial jury verdicts, and manage exposure in commercial or contractual disputes; (dd) continue to manage the relationships and agreements that the Company has with its labor unions to help drive long-term competitiveness; (ee) enter into and close third-party investment(s) in HDFS in a manner consistent with the Company's objectives and that does not adversely affect its business; (ff) manage risks related to outsourced functions and use of artificial intelligence; (gg) achieve anticipated results with respect to the Company's preowned motorcycle program, Harley-Davidson Certified, the Company's H-D1 Marketplace, and Apparel and Licensing; (hh) optimize capital allocation in light of the Company's capital allocation priorities; (ii) manage the Company's share repurchase strategy; and (jj) manage issues related to climate change and related regulations. The Company's ability to sell its motorcycles and related products and services and to meet its financial expectations also depends on the ability of the Company's dealers to sell its motorcycles and related products and services to retail customers. The Company depends on the capability and financial capacity of its dealers to develop and implement effective retail sales plans to create demand for the motorcycles and related products and services they purchase from the Company. In addition, the Company's dealers and distributors may experience difficulties in operating their businesses and selling Harley-Davidson motorcycles and related products and services as a result of weather, economic conditions, or other factors. HDFS' retail credit losses have normalized in recent quarters to higher levels after a period of historically low levels of credit losses. Further, the Company believes that HDFS's retail credit losses will continue to change over time due to changing consumer credit behavior, macroeconomic conditions, including the impact of inflation and HDFS's efforts to increase prudently structured loan approvals to sub-prime borrowers. In addition, HDFS's efforts to adjust underwriting criteria based on market and economic conditions and the actions that the Company has taken and could take that impact motorcycle values may impact HDFS's retail credit losses. The Company's operations, demand for its products, and its liquidity could be adversely impacted by changes in tariffs, inflation, work stoppages, facility closures, strikes, natural causes, widespread infectious disease, terrorism, war or other hostilities, including the conflict in Ukraine, or other factors. Refer to Risk Factors under Item 1.A of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 26, 2025 and applicable updates under Item 1.A of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 filed with the SEC on May 6, 2025 for a discussion of additional risk factors and a more complete discussion of some of the cautionary statements noted above. ### (HOG-Earnings) Harley-Davidson, Inc. Condensed Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) Three months ended Six months ended June 30, June 30, June 30, June 30, 2025 2024 2025 2024 HDMC revenue $ 1,043,649 $ 1,348,906 $ 2,125,155 $ 2,825,012 Gross profit 298,705 433,126 613,949 894,196 Selling, administrative and engineering expense 237,389 235,221 436,362 457,845 Operating income from HDMC 61,316 197,905 177,587 436,351 LiveWire revenue 6,011 6,448 8,754 11,152 Gross profit (loss) 162 (1,784) (1,619) (5,725) Selling, administrative and engineering expense 18,815 26,382 36,842 51,682 Operating loss from Livewire (18,653) (28,166) (38,461) (57,407) HDFS revenue 257,438 263,539 502,399 512,336 HDFS expense 187,665 192,176 368,590 387,098 Operating income from HDFS 69,773 71,363 133,809 125,238 Operating income 112,436 241,102 272,935 504,182 Other income, net 14,477 15,879 30,750 36,443 Investment income 10,950 14,811 19,891 29,215 Interest expense (7,696) (7,680) (15,382) (15,359) Income before income taxes 130,167 264,112 308,194 554,481 Income tax provision 24,422 48,706 71,652 106,842 Net income $ 105,745 $ 215,406 $ 236,542 $ 447,639 Less: Loss attributable to noncontrolling interests 1,824 2,863 4,131 5,571 Net income attributable to Harley-Davidson, Inc. $ 107,569 $ 218,269 $ 240,673 $ 453,210 Earnings per share: Basic $ 0.89 $ 1.64 $ 1.96 $ 3.36 Diluted $ 0.88 $ 1.63 $ 1.95 $ 3.34 Weighted-average shares: Basic 121,521 133,412 122,727 134,759 Diluted 122,203 134,108 123,457 135,513 Cash dividends per share: $ 0.1800 $ 0.1725 $ 0.3600 $ 0.3450 LiveWire results presented in the Company's financial statements represent the LiveWire reportable segment as determined in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 280 Segment Reporting which may differ from LiveWire Group, Inc. results. Harley-Davidson, Inc. Condensed Consolidated Balance Sheets (In thousands) (Unaudited) (Unaudited) June 30, December 31, June 30, 2025 2024 2024 ASSETS Current assets: Cash and cash equivalents 1,587,664 1,589,608 1,849,159 Accounts receivable, net 325,756 234,315 321,285 Finance receivables, net 2,127,866 2,031,496 2,472,784 Inventories, net 630,287 745,793 668,924 Restricted cash 149,782 135,661 137,486 Other current assets 327,260 259,764 188,002 5,148,615 4,996,637 5,637,640 Finance receivables, net 5,198,356 5,256,798 5,545,780 Other long-term assets 1,703,474 1,628,144 1,576,822 $ 12,050,445 $ 11,881,579 $ 12,760,242 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 1,040,616 $ 892,678 $ 1,038,234 Short-term deposits, net 243,101 173,099 206,972 Short-term debt 503,353 640,204 497,792 Current portion of long-term debt, net 1,983,828 1,851,513 2,021,344 3,770,898 3,557,494 3,764,342 Long-term debt, net 4,367,553 4,468,665 4,949,871 Other long-term liabilities 604,061 696,920 612,713 Shareholders' equity 3,307,933 3,158,500 3,433,316 $ 12,050,445 $ 11,881,579 $ 12,760,242 Harley-Davidson, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) Six months ended June 30, June 30, 2025 2024 Net cash provided by operating activities $ 509,492 $ 577,642 Cash flows from investing activities: Capital expenditures (65,560) (87,835) Finance receivables, net (24,985) (308,988) Other investing activities 691 (206) Net cash used by investing activities (89,854) (397,029) Cash flows from financing activities: Proceeds from issuance of medium-term notes 647,088 495,856 Repayments of medium-term notes (700,000) - Proceeds from securitization debt 497,790 547,618 Repayments of securitization debt (584,153) (506,489) Net decrease in unsecured commercial paper (135,902) (379,743) Borrowings of asset-backed commercial paper 155,000 351,429 Repayments of asset-backed commercial paper (145,379) (125,654) Net (decrease) increase in deposits (13,073) 56,007 Dividends paid (44,756) (47,359) Repurchase of common stock (93,140) (209,675) Other financing activities 6 8 Net cash (used) provided by financing activities (416,519) 181,998 Effect of exchange rate changes on cash, cash equivalents and restricted cash 12,375 (10,821) Net increase in cash, cash equivalents and restricted cash $ 15,494 $ 351,790 Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 1,740,854 $ 1,648,811 Net increase in cash, cash equivalents and restricted cash 15,494 351,790 Cash, cash equivalents and restricted cash, end of period $ 1,756,348 $ 2,000,601 Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows: Cash and cash equivalents $ 1,587,664 $ 1,849,159 Restricted cash 149,782 137,486 Restricted cash included in Other long-term assets 18,902 13,956 Cash, cash equivalents and restricted cash per the Consolidated statements of cash flows $ 1,756,348 $ 2,000,601 HDMC Revenue and Motorcycle Shipment Data (Unaudited) Three months ended Six months ended June 30, June 30, June 30, June 30, 2025 2024 2025 2024 HDMC REVENUE (in thousands) Motorcycles $ 778,051 $ 1,068,693 $ 1,641,929 $ 2,290,233 Parts and accessories 186,874 193,865 330,307 360,058 Apparel 55,240 63,393 112,564 127,504 Licensing 5,944 5,485 9,002 14,414 Other 17,540 17,470 31,353 32,803 $ 1,043,649 $ 1,348,906 $ 2,125,155 $ 2,825,012 HDMC U.S. MOTORCYCLE SHIPMENTS 21,736 32,334 46,601 73,911 HDMC WORLDWIDE MOTORCYCLE SHIPMENTS Grand American Touring(a) 18,080 29,345 41,758 64,701 Cruiser 13,110 14,410 24,970 30,101 Sport and Lightweight 3,188 4,094 5,296 9,057 Adventure Touring 1,459 1,811 2,414 3,473 35,837 49,660 74,438 107,332 (a) Includes Trike LiveWire Motorcycle Shipments 55 158 88 275 HDMC Gross Profit (Unaudited) The estimated impact of significant factors affecting the comparability of gross profit from the second quarter of 2024 to the second quarter of 2025 were as follows (in millions): Three months ended Six months ended 2024 gross profit $ 433 $ 894 Volume (101) (241) Price and sales incentives 9 32 Foreign currency exchange rates and hedging 24 24 Shipment mix 6 17 Raw material prices 4 4 Manufacturing and other costs (76) (116) (134) (280) 2025 gross profit $ 299 $ 614 HDFS Finance Receivables Allowance for Credit Losses (Unaudited) Three months ended Six months ended June 30, June 30, June 30, June 30, 2025 2024 2025 2024 Balance, beginning of period $ 393,178 $ 380,361 $ 401,183 $ 381,966 Provision for credit losses 49,738 56,030 103,072 117,040 Charge-offs, net of recoveries (43,623) (42,874) (104,962) (105,489) Balance, end of period $ 399,293 $ 393,517 $ 399,293 $ 393,517 Worldwide Retail Sales of Harley-Davidson Motorcycles(a) (Unaudited) Three months ended Six months ended June 30, June 30, June 30, June 30, 2025 2024 2025 2024 United States 26,704 32,258 45,911 57,984 Canada 2,227 2,579 3,912 4,339 Total North America 28,931 34,837 49,823 62,323 EMEA 7,621 8,015 12,796 13,279 Asia Pacific 4,967 6,322 9,329 12,356 Latin America 735 824 1,316 1,445 Total worldwide retail sales 42,254 49,998 73,264 89,403 (a) Data source for retail sales figures shown above is new sales warranty and registration information provided by dealers and compiled by the Company. The Company must rely on information that its dealers supply concerning new retail sales, and the Company does not regularly verify the information that its dealers supply. This information is subject to revision. SOURCE Harley-Davidson, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Harley-Davidson Delivers Second Quarter Financial Results and Announces HDFS Transaction with KKR and PIMCO

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