HOG

EX-99.1

2 a8kq12026exhibit991.htm

EX-99.1

Document

FOR IMMEDIATE RELEASE

Harley-Davidson Delivers First Quarter Financial Results

MILWAUKEE (May 5, 2026) – Harley-Davidson, Inc. (“Harley-Davidson,” “HDI,” or the “Company”) (NYSE: HOG) today reported first quarter 2026 results.

“We’re pleased with our first quarter results, which reflect actions we’ve taken to drive demand and improve dealer health. We saw a 14% increase in retail performance in North America, which drove global retail sales growth of 8%, and achieved a 22% year-over-year reduction in global dealer inventories, as we continue to prioritize aligning wholesale with retail demand. We are energized by the positive early reception to our new RIDE marketing platform, and excited to activate against our new growth strategy, Back to the Bricks,” said Artie Starrs, President and CEO, Harley-Davidson.

First Quarter 2026 Highlights and Results

•North American retail motorcycle sales of 23,803 units, up 14% vs. prior year

•Global retail motorcycle sales of 33,507 units, up 8% vs. prior year

•Global dealer inventory levels of new motorcycles ended Q1 ’26 down 22% vs. end Q1 ’25

•HDMC global motorcycle shipments of 37,295, down 3% vs. prior year

•HDMC revenue of $1.1 billion, down 2% vs. prior year

•HDFS operating income margin of 19.9%

•Delivered diluted EPS of $0.22

•Repurchased $128 million of shares (6.6 million shares) on a discretionary basis

•Incurred $15 million of costs related to strategic changes, including termination benefits and other restructuring charges

First Quarter 2026 Results

Harley-Davidson, Inc. Consolidated Financial Results

$ in millions (except EPS)

1st quarter

2026

2025

Change

Revenue

$1,173

$1,329

-12%

Operating Income

$23

$160

-85%

Net Income Attributable to HDI

$25

$133

-81%

Diluted EPS

$0.22

$1.07

-79%

Consolidated revenue in the first quarter was down 12 percent, driven largely by an HDFS revenue decrease of 54 percent.

Consolidated operating income in the first quarter was down 85 percent, driven by a decline of 84 percent at HDMC and a decline of 65 percent at HDFS. At the LiveWire segment, the operating loss improved by $2 million or 11 percent lower than the prior year’s loss. Consolidated operating income margin in the first quarter was 2 percent relative to 12.1 percent in the first quarter a year ago.

Harley-Davidson Motor Company (HDMC) – Results

$ in millions1st quarter

20262025Change

Motorcycle Shipments (thousands)37.338.6-3%

Revenue$1,055$1,082-2%

Motorcycles$836$864-3%

Parts & Accessories$142$143-1%

Apparel$57$570%

Licensing$6$398%

Other$14$14-2%

Gross Margin25.3%29.1%-3.9 pts.

Operating Income$19$116-84%

Operating Margin1.8%10.8%-9.0 pts.

First quarter global motorcycle shipments decreased 3 percent, in-line with the Company’s expectations. Revenue was down 2 percent, driven by the decrease in wholesale shipments and the unfavorable net effect of global pricing and sales incentives, partially offset by favorable foreign currency. Parts & Accessories revenue was down 1 percent and Apparel revenue was flat.

First quarter gross margin was down 3.9 points due to the cost of new or increased tariffs, the net effect of global pricing and sales incentives, and unfavorable product mix. These factors were partially offset by a favorable court judgement resulting in a tariff refund in the EU and favorable foreign currency. First quarter operating income margin was down 9.0 points due to the factors above, while operating expense was $49 million higher than a year ago, including restructuring expense of $15 million in the quarter.

Harley-Davidson Retail Motorcycle Sales

Motorcycles (thousands)

1st quarter

2026

2025

Change

North America

23.8

20.9

14%

EMEA

5.0

5.2

-3%

Asia Pacific

4.0

4.4

-9%

Latin America

0.7

0.6

21%

Worldwide Total

33.5

31.0

8%

Global retail motorcycle sales in the first quarter were up 8 percent versus the prior year, reflecting strong year-over-year results in North America and soft International results. North America retail experienced 16 percent growth in the US, driven by strength in the Touring category and a positive response to the new ’26 motorcycle line-up. EMEA retail performance, down 3 percent, was characterized by modest growth in France, the Benelux region and the UK, while the German region experienced a decline. APAC retail performance, down 9 percent, saw declines in most major countries. Latin America retail was characterized by strong gains in Brazil and Mexico.

Harley-Davidson Financial Services (HDFS) – Results

$ in millions

1st quarter

2026

2025

Change

Revenue

$112

$245

-54%

Operating Income

$22

$64

-65%

2

In the first quarter, HDFS revenue was down 54 percent from prior year, driven by lower retail and wholesale finance receivables at lower yields. The decline in retail receivables was due to the sale of loan assets as part of the HDFS transaction, which took place in the second hal

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 9, 2026 Harley-Davidson, Inc. (Exact name of registrant as specified in its charter)

Wisconsin1-918339-1382325 (State or other jurisdiction of incorporation)     (Commission File Number)(IRS Employer Identification No.)

3700 West Juneau Avenue, Milwaukee, Wisconsin 53208 (Address of principal executive offices, including zip code) (414) 342-4680 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act: Title of each class  Trading Symbol  Name of exchange on which registered COMMON STOCK, $0.01 par value per share  HOG  New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition.

On February 10, 2026, Harley-Davidson, Inc. (the “Company”) issued a press release (the “Press Release”) announcing the Company’s fourth quarter and full year 2025 results for the financial period ended December 31, 2025. A copy of the Press Release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 9, 2026, James Duncan Farley, Jr., member of the Board of Directors of the Company, notified Allan Golston, Chair of the Nominating and Corporate Governance Committee of the Board of Directors, that he does not wish to stand for re-election as a member of the Board of Directors when his term as director ends at the conclusion of the Company’s upcoming annual meeting of shareholders. Mr. Farley’s decision was not due to any disagreement with the Company on any matter relating to its operations, policies, or practices. The Company wishes Mr. Farley well with gratitude and respect for his many contributions during his time with the Company.

In light of the decision, management expects the Board of Directors to act to decrease the size of the Board of Directors from nine to eight members, effective at the conclusion of the upcoming annual meeting of shareholders.

Item 9.01 Financial Statements and Exhibits.

(a)Not applicable. (b)Not applicable. (c)Not applicable. (d)Exhibits. The following exhibit is being furnished herewith:

Exhibit No.Description

99.1Press Release of Harley-Davidson, Inc. dated February 10, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HARLEY-DAVIDSON, INC.

Date: February 10, 2026/s/ Paul J. Krause Paul J. Krause Secretary

2

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2025

Harley-Davidson, Inc.

(Exact name of registrant as specified in charter)

Wisconsin

1-9183

39-1382325

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

3700 West Juneau Avenue, Milwaukee, Wisconsin 53208

(Address of principal executive offices, including zip code)

(414) 342-4680

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of exchange on which registered

COMMON STOCK, $0.01 par value per share HOG New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02.Results of Operations and Financial Condition.

On November 4, 2025, Harley-Davidson, Inc. (the “Company”) issued a press release (the “Press Release”) announcing the Company’s third quarter results for the financial period ended September 30, 2025. A copy of the Press Release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1 Press Release of Harley-Davidson, Inc. dated November 4, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HARLEY-DAVIDSON, INC.

Date: November 4, 2025 /s/ Paul J. Krause

Paul J. Krause

Secretary

3