Latest news with #Zeitz
Yahoo
15-05-2025
- Automotive
- Yahoo
HOG Q1 Earnings Call: Revenue Misses, Profit Beats, and Guidance Withdrawn Amid Tariff Uncertainty
American motorcycle manufacturing company Harley-Davidson (NYSE:HOG) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 23.1% year on year to $1.33 billion. Its non-GAAP profit of $1.07 per share was 38.7% above analysts' consensus estimates. Is now the time to buy HOG? Find out in our full research report (it's free). Revenue: $1.33 billion vs analyst estimates of $1.35 billion (23.1% year-on-year decline, 1.2% miss) Adjusted EPS: $1.07 vs analyst estimates of $0.77 (38.7% beat) Adjusted EBITDA: $192.1 million vs analyst estimates of $155.2 million (14.5% margin, 23.8% beat) Operating Margin: 12.1%, down from 15.2% in the same quarter last year Free Cash Flow Margin: 8.4%, up from 3.3% in the same quarter last year Motorcycles Sold: 38,601, down 19,071 year on year Market Capitalization: $3.03 billion Harley-Davidson's first quarter results reflected the challenges of a soft motorcycle market, with revenue missing Wall Street expectations due to lower sales volumes, especially in North America. CEO Jochen Zeitz attributed much of the shortfall to weak consumer confidence and the ongoing macroeconomic uncertainty, while also highlighting efforts to maintain tighter dealer inventory levels and a strong product mix. Zeitz said, 'Global retail sales were down 21% in Q1 and down 24% in North America, softer than we expected primarily in the US market, driven by historically low levels of consumer confidence.' Looking forward, management withdrew its previous 2025 financial guidance, citing the unpredictable tariff environment and persistent economic headwinds. Zeitz emphasized the company's cautious approach, stating, 'We are withdrawing our previous 2025 guidance until there is more clarity over economy and tariff landscape.' Harley-Davidson plans to focus on cost controls, new product launches, and supply chain adjustments, but management made clear that macro and policy uncertainty remain the main factors influencing its near-term outlook. Harley-Davidson's leadership focused on managing through a challenging demand environment and highlighted several business adjustments to address ongoing volatility. North America demand softness: The significant decline in U.S. sales was attributed to low consumer confidence and delayed purchases of discretionary products, as indicated by proprietary research showing 60% of non-owners and half of current owners are deferring purchases. Dealer inventory discipline: Management prioritized reducing dealer inventory, with global wholesale shipments down 33% and U.S. dealer inventory down 23% year over year, as part of a strategy to avoid oversupply during weak demand periods. Model year launch timing shift: Harley-Davidson is moving major product launches to later in the year, aligning marketing efforts with peak riding season to maximize effectiveness and support dealer sales. Entry-level and classic product expansion: The company confirmed plans to introduce new entry-level motorcycles and reintroduce an iconic classic model for both U.S. and international markets, aiming to reach more price-sensitive and new customers. Tariff and supply chain mitigation: Management detailed ongoing actions to address tariff impacts, including shifting sourcing away from China and engaging with policymakers, while noting that the rapidly changing policy environment remains a major risk to profitability. Management's outlook emphasizes caution, with near-term performance hinging on macroeconomic conditions, tariff developments, and the impact of strategic product and operational changes. Tariff impact and mitigation: Future results will be shaped by the evolving global tariff landscape, particularly high duties on Chinese components; Harley-Davidson is working to diversify its supply chain and engage with governments to reduce exposure. New product introductions: Launches of smaller, entry-level motorcycles and a classic model are expected to broaden the customer base and support demand recovery, provided economic conditions stabilize. Cost control and operational efficiency: Continued focus on productivity programs, inventory management, and disciplined marketing spend is intended to offset margin pressures from lower volumes and inflation, though management warns of limited flexibility if headwinds persist. Craig Kennison (Baird): Asked about the economics and rationale for a possible strategic partnership or investment in Harley-Davidson Financial Services (HDFS). Management replied that the main objective is to realize the premium value of HDFS, not a full sale. Joseph Altobello (Raymond James): Queried if recent actions indicate a change in the perceived strategic value of HDFS. Management stated that while HDFS remains important, the review is about market valuation and exploring value-enhancing options. James Hardiman (Citi): Sought clarity on tariff sources and potential mitigation, as well as impacts on demand. Management detailed their U.S.-centric supply chain and noted ongoing efforts to diversify sourcing, especially away from China. Robin Farley (UBS): Questioned the decision to suspend guidance and whether pricing actions are under consideration. Management said guidance was withdrawn due to macro and tariff uncertainty and that pricing remains a lever, but the environment is sensitive. Alex Perry (Bank of America): Inquired about the return of entry-level models and the impact of shifting model year launch timing. Management confirmed plans for new products and explained the timing shift aims to better support dealers and align with customer demand. Over the coming quarters, the StockStory team will focus on (1) the effectiveness of Harley-Davidson's new product introductions and their reception among new and existing riders, (2) the company's ability to further reduce dealer inventory without sacrificing revenue, and (3) developments in the tariff and trade policy environment that may affect costs and profitability. Progress on cost reductions and clarity on HDFS's future will also be key to assessing execution. Harley-Davidson currently trades at a forward P/E ratio of 7.5×. Should you double down or take your chips? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
14-05-2025
- Business
- Business Wire
H Partners Obtains Clear Referendum for Change at Harley-Davidson's 2025 Annual Meeting
NEW YORK--(BUSINESS WIRE)--H Partners Management, LLC ('H Partners' or 'we'), one of the largest shareholders of Harley-Davidson, Inc. (NYSE: HOG) ('Harley-Davidson', 'Harley', or the 'Company'), which beneficially owns approximately 9.3% of the outstanding shares of the Company, today commented on the preliminary results of the Company's 2025 Annual Meeting of Shareholders (the 'Annual Meeting'). 'We thank our fellow shareholders and all other stakeholders, including dealers, riders, and employees, for their outpouring of support during this campaign for change at Harley. While we are disappointed with the state of the Company under the leadership of Mr. Zeitz, Mr. Linebarger, and Ms. Levinson, we believe that this shareholder mandate can create a brighter future for Harley-Davidson. We are encouraged that this campaign compelled Harley's Board to commit to numerous shareholders that Mr. Zeitz, Mr. Linebarger, and Ms. Levinson will resign from the Board before the 2026 Annual Meeting, that it will appoint a new, external CEO, and that it will eliminate any consideration of Mr. Zeitz remaining on in an Executive Chair role. With such a large withhold vote, we call on the Board to follow through on these promises. We believe the outcome of today's Annual Meeting sends a clear message that the direction of the Company needs to change. We are pleased that our campaign forced the Board to engage directly with stakeholders that they had long ignored, including dealers, employees, and shareholders. We encourage all stakeholders to continue to voice their perspectives on what is required to fix this great company.' H Partners Management, LLC is an independent investment firm founded in 2005 based in New York City.
Yahoo
13-05-2025
- Automotive
- Yahoo
Bagger-style Harleys will soon be on the Grand Prix race circuit.
Harley-Davidson and MotoGP are launching an international racing championship featuring Harley 'bagger-style' motorcycles you normally wouldn't see on the Grand Prix circuit. In the real world, baggers are touring bikes with a large fairing for weather protection and hard-sided saddlebags for storage. They're known for comfort and the ability to handle long-distance rides. Starting in 2026, Harley and MotoGP are introducing a 12-race series race at six Grand Prix tracks in Europe and North America, with riders battling it out on race-prepared Harley-Davidson Road Glide baggers in two races per round. The custom-built Road Glides – engineered by Harley-Davidson Factory Racing and built for head-to-head competition – weigh approximately 617 pounds and produce more than 200 horsepower. They're capable of reaching speeds over 180 miles per hour, according to Harley. Every bike will be identical, ensuring close competition. The field is expected to comprise six to eight teams, each with two riders, and supported by Harley-Davidson Factory Racing. This is a bold new step for Harley-Davidson's global racing ambitions, says company Chairman, President and CEO Jochen Zeitz. 'With this new series, we're excited to bring a new form of racing to the world stage. Not only is this a bold and new chapter for our brand, celebrating our heritage while pushing into the future, but it will add an amazing spectacle to the greatest motorcycle show in the world,' Zeitz said in a news release. More details, including the race calendar and how fans will be able to watch and stay up to date, will be revealed soon, according to Harley. More: What do you think is best for Harley-Davidson? Let us know. This article originally appeared on Milwaukee Journal Sentinel: Bagger-style Harleys will soon race on global Grand Prix circuit Sign in to access your portfolio
Euronews
11-05-2025
- Entertainment
- Euronews
Koyo Kouoh, 2026 Venice Art Biennale curator, dies suddenly aged 58
Koyo Kouoh, the curator of the 2026 Venice Art Biennale, has died at age 58, her home institution in South Africa said in an Instagram post Saturday. The Zeitz Museum of Contemporary Art Africa in Cape Town in South Africa confirmed the news overnight but gave no cause. The Biennale said it was "deeply saddened and dismayed" to learn of her death. Kouoh was the first African woman asked to helm the Venice Art Biennale. Born in Cameroon in 1967, she was invited to curate the 2026 edition of the Biennale in December. A leading figure in promoting Pan-Africanism throughout the art world, Kouoh had been executive director and chief curator at Zeitz since 2019. Appointed in December 2024 by the board of directors of La Biennale, Kouoh worked "with passion, intellectual rigor and vision on the conception and development of the Biennale Arte 2026," the Venice arts institution said. The presentation of the exhibition's title and theme was due to take place in Venice on May 20. Kouoh also increased her reputation by curating the pioneering 2022 exhibition "When We See Us: A Century of Black Figuration in Painting." The show's title was inspired by the 2019 Netflix miniseries When They See Us by African-American director Ava DuVernay, which focuses on how Black youth are seen as potential criminals and thus as a threat. "Her passing leaves an immense void in the world of contemporary art and in the international community of artists, curators, and scholars who had the privilege of knowing and admiring her extraordinary human and intellectual commitment," the Biennale said. It extended "its deepest sympathies and affection" to Kouoh's family and friends, and "all those who shared with her a journey of research and critical thought on contemporary art." In a statement, Italy's Premier Giorgia Meloni expressed her "deepest condolences" for Kouoh's "premature and sudden passing," noting it "leaves a void in the world of contemporary art."
10-05-2025
- Entertainment
Koyo Kouoh, 2026 Venice Art Biennale curator, dies suddenly at age 58
ROME -- Koyo Kouoh, the curator of the 2026 Venice Art Biennale, has died at age 58, her home institution in South Africa said in an Instagram post Saturday. The Zeitz Museum of Contemporary Art Africa in Cape Town in South Africa confirmed her passing overnight but gave no cause of death. The Biennale said Saturday it was 'deeply saddened and dismayed' to learn of her death. Kouoh was the first African woman tapped to helm the Venice Biennale. Born in Cameroon in 1967, she was tapped to curate the 2026 edition of the Biennale in December. A leading figure in promoting Pan-Africanism throughout the art world, Kouoh had been executive director and chief curator at Zeitz since 2019. Appointed in December 2024 by the board of directors of La Biennale, Kouoh worked 'with passion, intellectual rigor and vision on the conception and development of the Biennale Arte 2026,' the Venice arts institution said. The presentation of the exhibition's title and theme was due to take place in Venice on May 20. 'Her passing leaves an immense void in the world of contemporary art and in the international community of artists, curators, and scholars who had the privilege of knowing and admiring her extraordinary human and intellectual commitment,' the Biennale said. It extended 'its deepest sympathies and affection' to Kouoh's family and friends, and 'all those who shared with her a journey of research and critical thought on contemporary art.' In a statement, Italy's Premier Giorgia Meloni on Saturday expressed her 'deepest condolences' for Kouoh's 'premature and sudden passing,' noting it 'leaves a void in the world of contemporary art.'
