Second Quarter 2021 Highlights and Results, and Recent Announcements
- Delivered Q2 GAAP diluted EPS of $1.33, up $1.93 over Q2 2020
- Q2 H-D, Inc. total revenue up 77 percent over Q2 2020
- North America Q2 retail sales up 43% over Q2 2020 and up 5% over Q2 2019
- Delivered strong Motorcycles and Related Products (Motorcycles) segment gross margin and operating margin driven by the Rewire product portfolio adjustments
- Delivered Financial Services segment Q2 2021 operating income growth of $90 million over Q2 2020 driven by a lower provision for credit losses
- Launched LiveWire as a standalone brand and introduced LiveWire ONE™ – the electric motorcycle built for the urban experience, with the power and range to take you beyond
- Revealed Sportster® S, the all-new Sportster motorcycle built on the Revolution Max platform
- Launched H-D1™ Marketplace today, the ultimate online destination for pre-owned Harley-Davidson motorcycles in North America
Rolling in the right direction.
by Janaki Jitchotvisut from https://www.rideapart.com
On July 21, 2021, Harley-Davidson reported its 2021 Q2 results. The numbers are definitely moving in the right direction, especially when compared to the same time period in 2020. Worldwide Harley motorcycle sales are up 24 percent, due entirely to an impressive sales rebound in North America.
North American sales are up 43 percent year-on-year in Q2, which is the only positive number when broken down by sales region. Europe, the Middle East, and Africa (commonly referred to among some OEMs as “EMEA”) are down by 7 percent for the same time period. Asia Pacific sales are down 13 percent, and Latin America sales are down 31 percent.
Taking the entirety of the first six months of 2021 into consideration, worldwide Harley-Davidson bike sales are up 18 percent—which is still good news for the embattled OEM. North American sales are up 38 percent, EMEA sales are down 19 percent, Asia Pacific sales are down 7 percent, and Latin America sales are down 47 percent.
Harley had some explanations for some of the negative numbers, stressing that they’re all part of its overall strategy. EMEA Q2 retail sales, the Motor Company said, went down because Harley stopped sales of the Street and legacy Sportster models in the region. Meanwhile, Latin America sales were negatively impacted by a dealer reduction across the region, as well as “pricing actions across the portfolio, which were executed as part of the Rewire strategy.”
Revenues for Q2 of 2021 are up 99 percent over the same period in 2020. That likely comes as particularly good news, since that contributes to a revenue increase of 45 percent over 2020 for the first six months of the year. While most of these numbers are still below those achieved in 2019, this is clearly the strongest showing since the pandemic became a factor. North American Q2 retail sales stand out as an exception, as those are actually up 5 percent over Q2 2019.
Parts and Accessories sales are likewise up 32 percent for Q2 of 2021, and General Merchandise sales are up 47 percent. Overall, Harley says, it forecasts full-year 2021 motorcycle segment revenue growth to end up between 30 and 35 percent, year-on-year. Since that is just a forecast, we’ll have to see how that prediction pans out over the coming months.