Welcome to our dedicated page for Harley Davidson news (Ticker: HOG), a resource for investors and traders seeking the latest updates and insights on Harley Davidson stock.
Harley-Davidson, Inc. reports developments across its motorcycle, rider-lifestyle and financing businesses. The company is the parent of Harley-Davidson Motor Company and Harley-Davidson Financial Services, with news commonly covering motorcycle retail sales, dealer inventory, shipments, accessories, riding gear, apparel collaborations and brand platforms such as RIDE.
Updates also cover the Back to the Bricks strategic plan, quarterly results, share repurchases, restructuring costs, HDFS financing activity and the company’s controlling interest in LiveWire Group. Coverage reflects the company’s mix of heavyweight motorcycles, customizable products, rider experiences, consumer finance, insurance programs and electric-motorcycle exposure.
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Harley-Davidson (NYSE: HOG) has appointed Jagdish Krishnan as Chief Digital Officer, focusing on enhancing consumer experiences through digital transformation. Krishnan will spearhead a new digital strategy to connect with customers and modernize global information systems. This role is part of Harley-Davidson's initiative called The Rewire, aimed at overhauling the company's operating model to create better customer-centric solutions. The company anticipates revealing its strategic plan, The Hardwire, by Q4 2021.
Harley-Davidson reported its Q2 2020 results, revealing a 47% drop in revenue to $865 million due to COVID-19 impacts. The company posted a net loss of $92 million, significantly down from $196 million in profit the previous year. Harley's Rewire initiative aims to streamline operations, reduce workforce by 700 positions, and refocus on high-potential markets, while launching new products including the Pan America 1250. The company maintains a strong liquidity position with $4.7 billion. A cash dividend of $0.02 per share will be paid on September 25, 2020.
Harley-Davidson (NYSE: HOG) will release its second quarter 2020 financial results on July 28, 2020, before market hours. The audio webcast will take place from 8-9 a.m. CDT, featuring CEO Jochen Zeitz and interim CFO Darrell Thomas discussing the financial outcomes and business developments, alongside The Rewire efforts. A slide presentation will be accessible 30 minutes prior to the call. Participants are advised to register at least 10 minutes early. A replay will be available two hours post-event.
Harley-Davidson announced significant changes as part of its "Rewire" initiative, aiming to streamline operations and improve efficiency. The restructuring is expected to incur costs of approximately $42 million in Q2 2020, with around 700 positions eliminated globally, including a leadership change as CFO John Olin departs. Key goals include enhancing core strengths, prioritizing essential markets, and simplifying product lines. A detailed report on The Rewire's financial implications will be shared with the upcoming Q2 results.