Sales slide at Harley-Davidson, hitting shares

(Sharecast News) - Shares in Harley-Davidson came under pressure on Wednesday, after softer consumer confidence hit revenues at the US motorcycle manufacturer.

Posting fourth-quarter numbers, the New York-listed firm said revenues fell 35% to $688m, while operating losses widened to $193m from $21m a year previously.

Diluted losses per share were $0.93, compared to earnings per share of $0.18 in the last three months of 2023.

Global motorcycle shipments fell 53% in the quarter to 14,000 units, and by 17% in the year to 148,862 units.

Full-year revenues were 11% lower at $5.2bn.

Jochen Zeitz, chief executive, said: "In 2024, we saw our performance being significantly impacted by the continued cyclical headwinds for discretionary products, including the high-interest rate environment affecting consumer confidence."

Looking to 2025, the firm said it expected full-year revenues to come in at best flat and at worst 5% lower. The operating margin is anticipated to be between 7% and 8%.

It also forecast LiveWire, its electric motorcycle brand, to ship between 1,000 and 1,500 units and for the unit's operating losses to come in between $70m and $80m.

Harley-Davidson sold 612 LiveWire motorbikes in 2024 and trimmed the operating loss by 6%, at $110m.

Shares in Harley-Davidson had lost 5% in pre-market trading by 1400 GMT.

Zeitz said: "The industry has faced many challenges over the past couple of years, impacting at all levels, but we believe we are best positioned to take advantage of any uptick in consumption."