Harley-Davidson, which makes bikes, has been, for the earlier various years, hoping to improve itself into a organization with a lengthy-time period potential. Or, at minimum, not a enterprise that mainly sells V-twin-powered heavy bikes to an growing old inhabitants. In this regard, there was the two great and terrible information on Thursday, when Harley introduced its fourth-quarter 2022 earnings success.
The fantastic news is that Harley took in $1.14 billion in revenue, which was better than analysts were anticipating, according to The Wall Street Journal, which in transform most likely had a ton to do with Harley’s inventory selling price going up more than 10 p.c currently. Harley also claimed it had internet revenue attributable to Harley of $42 million, a determine that the WSJ stated was better than analysts anticipated as perfectly. (Who are Wall Street analysts and why do publications like The Wall Road Journal spot so substantially excess weight on their viewpoints? I fear you have asked one question also quite a few, good friend.)
“As we conclude the next yr of the Hardwire, Harley-Davidson delivered a sturdy finish to the year, with stable execution of our strategic pillars,” is what Harley CEO Jochen Zeitz mentioned in a statement. (What is the Hardwire? It is one thing like, uh, “do far better.”)
The lousy news is that LiveWire, Harley’s electric powered bike division which it in fact spun into a new business to go general public by SPAC last yr, is performing bad. Harley, for one, says it expects LiveWire to reduce up to $125 million this year. Harley also explained that LiveWire bought just 69 bikes in the fourth-quarter of 2022, a selection that I originally assumed was a typo. It says for 2023 it hopes to have up to 2,000 electric powered models.
For context, Harley mentioned it offered all-around 19,200 inside combustion bikes in the fourth quarter in North The united states, with full models marketed in 2022 down 12 p.c from 2021, to 117,100, and sales have been flat globally. Harley blamed component of their problems on previous year’s generation shutdown, which makes sense.
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Harley also reported that they would be reporting LiveWire results independently from Harley effects, even while Harley has an fairness fascination of 89.4 per cent in LiveWire. That will at minimum make it less complicated to see which areas of the organization are performing or not, but a element of me wonders if Harley is truly hunting forward to reporting that LiveWire is providing dozens of electric powered motorcycles each quarter. Just dozens, I say.