Harley-Davidson (NYSE:HOG) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Posted by Geri Gentry on Oct 30th, 2026

Harley-Davidson (NYSE:HOG – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07), FiscalAI reports. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $3.10 earnings per share. The firm’s quarterly revenue was down 19.3% compared to the same quarter last year.

Here are the key takeaways from Harley-Davidson’s conference call:

North American retail sales rose 9% in Q3, lifting global retail sales 5% and Harley-Davidson’s U.S. 601+ cc market share to 37%. Strong sell-through of the Super Glide and Deadwood models was cited as a key driver.
Dealer inventory declined 26% year over year, with 88% of global inventory and 91% of North American inventory consisting of current-model-year motorcycles. Management said North American dealer profitability is tracking ahead of its goal to double in 2026.
Harley-Davidson raised its full-year 2026 guidance for HDMC retail and wholesale units to 135,500–139,000 and increased HDMC operating-income guidance to $25 million–$55 million. Capital-expenditure guidance was reduced to $140 million–$165 million, while the company repurchased $91 million of shares in the quarter.
HDMC’s adjusted EBITDA margin improved to 9.7% from 8.7%, but operating income declined to $44 million from $54 million because of restructuring costs, product mix, pricing, and raw-material pressures. Gross tariff costs are now expected at $105 million–$120 million for 2026, although recoveries are expected to offset the operating-income impact.
Europe remained weak, with Q3 retail sales down 5%, while supplier challenges and tariff uncertainty continue to pressure operations. LiveWire withdrew its guidance and disclosed substantial doubt about its ability to continue as a going concern; Harley-Davidson reiterated that it does not intend to fund LiveWire’s operating losses.

Harley-Davidson Stock Up 1.3%

Shares of HOG traded up $0.39 during trading hours on Friday, reaching $30.72. The stock had a trading volume of 1,424,049 shares, compared to its average volume of 2,840,285. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 8.26 and a beta of 1.30. The firm has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $23.91. Harley-Davidson has a 12 month low of $17.09 and a 12 month high of $31.12. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a $0.1875 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.75 annualized dividend and a yield of 2.4%. Harley-Davidson’s dividend payout ratio is presently 46.01%.

Insider Transactions at Harley-Davidson

In related news, CFO Jonathan Root sold 1,559 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $24.43, for a total transaction of $38,086.37. Following the transaction, the chief financial officer directly owned 24,733 shares of the company’s stock, valued at $604,227.19. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gayle Littleton bought 7,500 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the transaction, the chief accounting officer owned 7,500 shares in the company, valued at approximately $197,850. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 4,667 shares of company stock worth $119,423 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HOG. Griffin Securities set a $33.00 target price on Harley-Davidson in a research note on Monday, August 17th. Bank of America reissued a “buy” rating and set a $35.00 price target on shares of Harley-Davidson in a research report on Friday. DA Davidson raised their target price on shares of Harley-Davidson from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Wall Street Zen raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Robert W. Baird lifted their price objective on shares of Harley-Davidson from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.55.

Get Our Latest Research Report on HOG

Key Headlines Impacting Harley-Davidson

Here are the key news stories impacting Harley-Davidson this week:

Positive Sentiment: Raised 2026 guidance: Harley-Davidson raised its full-year outlook for Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS) for the second time this year. Full-year motorcycle retail sales and wholesale shipments are now projected at 135,500 to 139,000 units. Harley-Davidson Reports Third Quarter Financial Results And Raises HDMC and HDFS Guidance
Positive Sentiment: Improving North American demand: North American retail sales of new motorcycles rose 9% year over year in the third quarter, accelerating from 3% growth in the prior quarter. Global retail sales increased 5%, while dealer inventory ended 26% below year-ago levels, supporting a healthier channel position. Harley-Davidson Lifts 2026 Outlook as US Motorcycle Sales Accelerate Despite Earnings Miss
Positive Sentiment: Unusual call-option activity: Traders purchased 3,586 call options, more than triple the average volume, indicating increased speculative bullish interest in HOG.
Neutral Sentiment: Capital returns and board changes: Harley-Davidson returned $110 million to shareholders during the quarter, including $91 million in buybacks and $19 million in dividends. The company also appointed two new independent directors, which could support governance efforts but has limited immediate earnings impact. Harley-Davidson Raises FY26 HDMC And HDFS Outlook, Appoints New Independent Directors
Negative Sentiment: Quarterly results missed expectations: Adjusted EPS was $0.40 versus the $0.47 consensus estimate, while HDMC revenue fell 10% year over year to $964 million and global motorcycle shipments declined 8%. Net income dropped to $43 million from $377 million a year earlier, partly reflecting an unfavorable comparison and dealer-inventory strategy changes. Harley-Davidson Q3 Earnings and Revenues Miss Estimates
Negative Sentiment: Analyst remains cautious: Wells Fargo raised its HOG price target from $20 to $25 but kept an “underweight” rating, implying roughly 18.8% downside from the current share price. This limits the positive impact of the guidance increase.

Harley-Davidson Company Profile

(Get Free Report)

Harley-Davidson, Inc is a Milwaukee-based company that designs, manufactures and sells heavyweight motorcycles. Its product portfolio includes touring, cruiser, standard and adventure-touring motorcycles sold under the Harley-Davidson brand, as well as electric motorcycles offered through its LiveWire business.

The company also provides motorcycle parts, accessories, apparel and related merchandise. Through Harley-Davidson Financial Services, it offers financing and insurance products to motorcycle dealers and retail customers in supported markets.

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Earnings History for Harley-Davidson (NYSE:HOG)

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