Harley-Davidson, Inc. (NYSE:HOG) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET

Company Participants

Shawn Collins - Director, Investor Relations
Jochen Zeitz - Chairman, President and Chief Executive Officer
Jonathan Root - Chief Financial Officer
Karim Donnez - LiveWire Chief Executive Officer

Conference Call Participants

Craig Kennison - Baird
Alexander Perry - Bank of America
James Hardiman - Citigroup
Robin Farley - UBS
Joseph Altobello - Raymond James
Brandon Rolle - DA Davidson
Noah Zatzkin - KeyBanc
Tristan Thomas-Martin - BMO Capital Markets
Fred Wightman - Wolfe Research

Operator

Thank you for standing by and welcome to the Harley-Davidson 2024 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 risks that could cause actual results to be materially different. Those risks include among others, matters we have noted in today's earnings release and in our latest filings with the SEC.

Joining me for this morning's call are, Harley-Davidson Chief Executive Officer, Jochen Zeitz; also Chief Financial Officer, Jonathan Root; and we have LiveWire's Chief Executive Officer, Karim Donnez.

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

Jochen Zeitz

Thank you, Shawn and good morning everyone. Thank you for joining us for our Q2 2024 results. In Q2, consolidated revenue was up 12% driven by revenue growth of 13% at HDMC and 10% at HDFS. Additionally, we saw a strong improvement in earnings per share to $1.63 for the quarter.

Consolidated operating income in the second quarter was $241 million, up 9% from the prior year, driven largely by an increase of 21% of HDFS. In addition, HDMC operating income was up 2% and the operating loss of LiveWire was $4 million less than a year ago.

Through the quarter we saw the continued impact of the high interest rate environment affecting our industry, and in particular big ticket consumer discretionary sectors. That said, retail sales of new motorcycles in the U.S were still slightly positive versus prior year, with a varying degree of performance from state to state.