LiveWire Group, Inc. (NYSE:LVWR) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET

Company Participants

Shawn Collins - Director of Investor Relations

Jochen Zeitz - Chief Executive Officer, Harley Davidson

Karim Donnez - Chief Executive Officer, LiveWire Group, Inc.

Jonathan Root - Chief Financial Officer, Harley Davidson

Edel O'Sullivan - Chief Commercial Officer, Harley Davidson

Conference Call Participants

Craig Kennison - Baird

Robert Ohmes - Bank of America

Fred Wightman - Wolfe Research

Joseph Altobello - Raymond James

James Hardiman - Citi

Tristan Thomas-Martin - BMO Capital Markets

Noah Zatzkin - KeyBanc Capital Markets

David MacGregor - Longbow Research

Jaime Katz - Morningstar

Brandon Rolle - D.A. Davidson

Operator

Thank you for standing by, and welcome to the Harley-Davidson 2023 Second Quarter Investor and Analyst Conference Call. Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to Shawn Collins. Thank you. Please go ahead.

Shawn Collins

Thank you. Good morning. This is Shawn Collins, the Director of Investor Relations at Harley-Davidson. You can access the slides supporting today’s call on the Internet at the Harley Davidson Investor Relations website.

As you might expect, our comments will include forward-looking statements that are subject to business risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted in our latest filings with the SEC.

With that, joining me this morning for the first part of the call are Harley Davidson Chief Executive Officer, Jochen Zeitz. Also, Chief Financial Officer, Jonathan Root; and LiveWire CEO, Karim Donnez. In addition, for the Q&A portion of today’s call, Harley-Davidson’s Chief Commercial Officer, Edel O’Sullivan will be joining us as she usually does.

With that, let me turn it over to our CEO, Jochen Zeitz. Jochen?

Jochen Zeitz

Thank you, Shawn. Good morning, everyone, and thank you for joining us today. Our Q2 results showed progress on the delivery of our Hardwire strategy despite a difficult macro environment and the unexpected production suspension impacting the business.

Revenues were down 2% in the second quarter, driven by a revenue decline of 4% at HDMC, which was partially offset by revenue growth of 19% at HDFS. Despite the challenges, we saw global new motorcycle retail growth of 3%, with North America up 1% versus the prior year and solid international growth, especially in APAC, where we delivered a 24% increase in retail sales versus prior year.