Loading
Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Robin Farley | UBS | 9 (11%) |
| James Hardiman | Citigroup | 8 (13%) |
| Joe Altobello | Raymond James | 7 (29%) |
| Craig Kennison | Robert W. Baird | 7 (14%) |
| Jaime Katz | Morningstar | 6 (17%) |
| Tristan Thomas-Martin | BMO Capital Markets | 6 (0%) |
| Noah Zatzkin | KeyBanc Capital Markets | 5 (0%) |
| Brandon Rolle | Loop Capital | 4 (25%) |
| Alex Perry | Bank of America | 3 (0%) |
| David MacGregor | Longbow Research | 3 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Citigroup | 2 | 9 (11%) |
| UBS | 1 | 9 (11%) |
| Robert W. Baird | 1 | 7 (14%) |
| Raymond James | 1 |
| 7 (29%) |
| Morningstar | 1 | 6 (17%) |
| BMO Capital Markets | 1 | 6 (0%) |
| Morgan Stanley | 3 | 5 (0%) |
| KeyBanc Capital Markets | 1 | 5 (0%) |
Harley-Davidson's first quarter separated a recovering retail business from a shrinking reported P&L. Global retail sales rose 8% and North America 14% to approximately 24,000 motorcycles, lifting US 601 CC+ share 2 percentage points to 38%, while dealer inventory ended down 22% year-over-year with about two-thirds of North American stock now current model year. Reported results moved the other way: consolidated revenue fell 12% as HDFS revenue dropped 54% into the new capital-light model, and consolidated operating income fell to $23 million from $160 million on $45 million of tariff cost, a $15 million restructuring charge and $49 million of higher operating expenses, leaving GAAP EPS at $0.22 against $1.07. Management reaffirmed 2026 guidance of 130,000 to 135,000 retail and wholesale units and trimmed the full year tariff forecast to $75 million to $90 million. Alongside results it launched the Back to the Bricks plan, targeting $350 million plus EBITDA in 2027 on roughly $150 million of fixed cost reduction, with the Sportster returning in 2027 and Sprint arriving in the back half of 2026.
Guidance Reliability | Capital Allocation | Margin | Demand | Product Launch | M&A | Inventory | Credit | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 1 | 4 | 3 | 1 | 2 | 1 | |
| 2025Q1 | 3 | 5 | 1 | 1 | 2 | 4 | ||
| 2025Q2 | 2 | 4 | 2 | 1 | 2 | 2 | 1 | 1 |
| 2025Q3 | 2 | 1 | 1 | 3 | 1 | 1 | 2 | 1 |
| 2025Q4 | 5 | 2 | 3 | 1 | 1 | 2 | ||
| 2026Q1 | 2 | 2 | 3 | 2 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Guidance Reliability | 4 | 3 | 2 | 2 | 5 | 2 |
| Capital Allocation | 1 | 5 | 4 | 1 | 2 | 2 |
| Margin | 4 | 1 | 2 | 1 | 3 | 3 |
| Demand | 3 | 1 | 1 | 3 | 1 | 2 |
| Product Launch | 1 | 2 | 2 | 1 | 2 | |
| M&A | 4 | 2 | 1 | |||
| Inventory | 2 | 1 | 2 | 1 | ||
| Credit | 1 | 1 | 1 | 2 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $688M | -34.7% | $-0.93 | -616.7% | 22.3% | -28.1% | -17.0% | $77M |
| FY2025 Q1 | $1.33B | -23.1% | $1.07 | -37.8% | 35.3% | 12.1% | 10.0% | $112M |
| FY2025 Q2 | $1.31B | -19.3% | $0.88 | -46.0% | 28.2% | 8.6% | 8.2% | $332M |
| FY2025 Q3 | $1.34B | +16.5% | $3.10 | +240.7% | 35.2% | 35.7% | 28.1% | $-129M |
| FY2025 Q4 | $496M | -27.8% | $-2.44 | -162.4% | -22.8% | -72.8% | -56.3% | $100M |
| FY2026 Q1 | $1.17B | -11.8% | $0.22 | -79.4% | 29.5% | 3.9% | 2.1% | $-260M |
| FY2026 Q2 | $1.23B | -5.9% | $0.75 | -14.8% | 24.7% | 6.2% | 6.5% | $155M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HOG Harley-Davidson, Inc. | 3 | -11.8% | |
| F Ford Motor Company | 9 | +6.4% | |
| GM General Motors | 7 | -0.9% | |
| LCID Lucid Group, Inc. | 5 | +20.2% | |
| RIVN Rivian Automotive, Inc. | 7 | +11.4% |