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Harley-Davidson, Inc. (HOG - Free Report) reported first-quarter 2025 adjusted earnings of $1.07 per share, which surpassed the Zacks Consensus Estimate of 80 cents. The company had reported earnings of $1.72 per share in the year-ago quarter. The motorcycle manufacturer generated consolidated revenues (including motorcycle sales and financial services revenues) of $1.33 billion, down 23% from the prior-year quarter.
Harley-Davidson, Inc. Price, Consensus and EPS Surprise
Harley-Davidson Motor Company: Total revenues from the Motorcycle and Related Products segment, constituting the bulk of the firm’s overall revenues, fell 27% on a year-over-year basis to $1.08 billion and missed our forecast of $1.17 billion on lower-than-expected motorcycle shipments. Motorcycle shipments worldwide decreased 33% to 38,600 units and lagged our estimate of 43,571 units. In the quarter under review, revenues from the sale of motorcycles came in at $864 million, down 29% year over year. The segment generated an operating income of $116 million, which plunged 51% year over year and fell short of our estimate of $165.2 million.
During the reported quarter, Harley-Davidson retailed 31,000 motorcycle units globally, which declined 21% year over year and lagged our expectations of 38,000 units. Its retail motorcycle units sold in North America decreased 24% to 20,900. Sales in EMEA or Europe, the Middle East and Africa declined 2% year over year. Sales in Asia Pacific and Latin America fell 28% and 6%, respectively, year over year.
Revenues from parts & accessories were down 14% from a year ago to $143 million and missed our estimate of $162.2 million. Revenues from apparel fell 11% year over year to $57 million and fell short of our forecast of $63 million.
Harley-Davidson Financial Services: Revenues for Harley-Davidson Financial Services totaled $245 million. The figure declined 2% year over year and missed our forecast of $273 million. Operating income was up 19% to $64 million and beat our estimate of $51.4 million amid lower provision for credit losses and reduced operating expenses.
LiveWire: During the reported quarter, the total shipment for LiveWire was 33 units, declining 72% from the year-ago quarter levels. Revenues declined 42% to $3 million and missed our estimate of $6.5 million. Operating loss narrowed from $29 million to $20 million. The reported loss was narrower than our projection of $29.7 million.
(Find the latest earnings estimates and surprises on Zacks Earnings Calendar.)
Financial Position
In the first quarter, selling, general and administrative expenses from the HDMC unit decreased to $199 million from $222.6 million in the year-ago quarter. The company paid dividends of 18 cents per share and bought back 3.4 million shares in the reported quarter.
Harley-Davidson had cash and cash equivalents of $1.93 billion as of March 31, 2025, up from $1.59 billion as of Dec. 31, 2024. The long-term debt increased to $4.96 million from $4.46 million recorded as of Dec. 31, 2024.
Tesla (TSLA - Free Report) reported first-quarter 2025 earnings per share of 27 cents, which missed the Zacks Consensus Estimate of 44 cents and also decreased from the year-ago figure of 45 cents. Total revenues of $19.33 billion also lagged the consensus mark of $21 billion and declined 9% year over year. Tesla is on track for the pilot launch of robotaxi services in Austin by June. However, with the current global tariff chaos and uncertainty with Tesla’s China business, the company will revisit 2025 delivery volume guidance in the second-quarter update.
Tesla had cash/cash equivalents/investments of $37 billion as of March 31, 2025, compared with $36.5 billion on Dec. 31, 2024. Long-term debt and finance leases, net of the current portion, totaled $5.3 billion, down from $5.7 billion as of Dec. 31, 2024.
PACCAR Inc. (PCAR - Free Report) recorded earnings of $1.46 per share for the first quarter of 2025, which missed the Zacks Consensus Estimate of $1.57 and declined from $2.27 reported in the year-ago period. Consolidated revenues (including trucks and financial services) came in at $7.44 billion, down from $8.74 billion in the corresponding quarter of 2024. Sales from Trucks, Parts and Others were $6.91 billion.
PACCAR’s cash and marketable debt securities amounted to $8.1 billion as of March 31, 2025, compared with $9.65 billion as of Dec. 31, 2024. Capex for 2025 is envisioned in the band of $700-$800 million. PACCAR expects R&D expenses in the range of $450-$480 million compared with the previous estimate of $460-$500 million.
General Motors (GM - Free Report) reported first-quarter 2025 adjusted earnings of $2.78 per share, which surpassed the Zacks Consensus Estimate of $2.69. The bottom line also increased from the year-ago quarter’s $2.62. Revenues of $44.02 billion beat the Zacks Consensus Estimate of $42.5 billion and increased from $43.01 billion recorded in the year-ago period. General Motors recorded adjusted earnings before interest and taxes (EBIT) of $3.49 billion, lower than $3.87 billion in the prior-year quarter.
General Motors had cash and cash equivalents of $20.57 billion as of March 31, 2025. The long-term automotive debt at the end of the quarter was $13.44 billion. The company recorded an adjusted automotive free cash flow of $811 million in the first quarter of 2025, down from $1.09 billion generated in the year-ago quarter.
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Harley-Davidson Tops Q1 Earnings Estimates, Withdraws Guidance
Harley-Davidson, Inc. (HOG - Free Report) reported first-quarter 2025 adjusted earnings of $1.07 per share, which surpassed the Zacks Consensus Estimate of 80 cents. The company had reported earnings of $1.72 per share in the year-ago quarter. The motorcycle manufacturer generated consolidated revenues (including motorcycle sales and financial services revenues) of $1.33 billion, down 23% from the prior-year quarter.
Harley-Davidson, Inc. Price, Consensus and EPS Surprise
Harley-Davidson, Inc. price-consensus-eps-surprise-chart | Harley-Davidson, Inc. Quote
Segmental Highlights
Harley-Davidson Motor Company: Total revenues from the Motorcycle and Related Products segment, constituting the bulk of the firm’s overall revenues, fell 27% on a year-over-year basis to $1.08 billion and missed our forecast of $1.17 billion on lower-than-expected motorcycle shipments. Motorcycle shipments worldwide decreased 33% to 38,600 units and lagged our estimate of 43,571 units. In the quarter under review, revenues from the sale of motorcycles came in at $864 million, down 29% year over year. The segment generated an operating income of $116 million, which plunged 51% year over year and fell short of our estimate of $165.2 million.
During the reported quarter, Harley-Davidson retailed 31,000 motorcycle units globally, which declined 21% year over year and lagged our expectations of 38,000 units. Its retail motorcycle units sold in North America decreased 24% to 20,900. Sales in EMEA or Europe, the Middle East and Africa declined 2% year over year. Sales in Asia Pacific and Latin America fell 28% and 6%, respectively, year over year.
Revenues from parts & accessories were down 14% from a year ago to $143 million and missed our estimate of $162.2 million. Revenues from apparel fell 11% year over year to $57 million and fell short of our forecast of $63 million.
Harley-Davidson Financial Services: Revenues for Harley-Davidson Financial Services totaled $245 million. The figure declined 2% year over year and missed our forecast of $273 million. Operating income was up 19% to $64 million and beat our estimate of $51.4 million amid lower provision for credit losses and reduced operating expenses.
LiveWire: During the reported quarter, the total shipment for LiveWire was 33 units, declining 72% from the year-ago quarter levels. Revenues declined 42% to $3 million and missed our estimate of $6.5 million. Operating loss narrowed from $29 million to $20 million. The reported loss was narrower than our projection of $29.7 million.
(Find the latest earnings estimates and surprises on Zacks Earnings Calendar.)
Financial Position
In the first quarter, selling, general and administrative expenses from the HDMC unit decreased to $199 million from $222.6 million in the year-ago quarter. The company paid dividends of 18 cents per share and bought back 3.4 million shares in the reported quarter.
Harley-Davidson had cash and cash equivalents of $1.93 billion as of March 31, 2025, up from $1.59 billion as of Dec. 31, 2024. The long-term debt increased to $4.96 million from $4.46 million recorded as of Dec. 31, 2024.
The company withdrew its 2025 guidance amid macro-uncertainties and tariff troubles. HOG currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
Key Releases From the Auto Space
Tesla (TSLA - Free Report) reported first-quarter 2025 earnings per share of 27 cents, which missed the Zacks Consensus Estimate of 44 cents and also decreased from the year-ago figure of 45 cents. Total revenues of $19.33 billion also lagged the consensus mark of $21 billion and declined 9% year over year. Tesla is on track for the pilot launch of robotaxi services in Austin by June. However, with the current global tariff chaos and uncertainty with Tesla’s China business, the company will revisit 2025 delivery volume guidance in the second-quarter update.
Tesla had cash/cash equivalents/investments of $37 billion as of March 31, 2025, compared with $36.5 billion on Dec. 31, 2024. Long-term debt and finance leases, net of the current portion, totaled $5.3 billion, down from $5.7 billion as of Dec. 31, 2024.
PACCAR Inc. (PCAR - Free Report) recorded earnings of $1.46 per share for the first quarter of 2025, which missed the Zacks Consensus Estimate of $1.57 and declined from $2.27 reported in the year-ago period. Consolidated revenues (including trucks and financial services) came in at $7.44 billion, down from $8.74 billion in the corresponding quarter of 2024. Sales from Trucks, Parts and Others were $6.91 billion.
PACCAR’s cash and marketable debt securities amounted to $8.1 billion as of March 31, 2025, compared with $9.65 billion as of Dec. 31, 2024. Capex for 2025 is envisioned in the band of $700-$800 million. PACCAR expects R&D expenses in the range of $450-$480 million compared with the previous estimate of $460-$500 million.
General Motors (GM - Free Report) reported first-quarter 2025 adjusted earnings of $2.78 per share, which surpassed the Zacks Consensus Estimate of $2.69. The bottom line also increased from the year-ago quarter’s $2.62. Revenues of $44.02 billion beat the Zacks Consensus Estimate of $42.5 billion and increased from $43.01 billion recorded in the year-ago period. General Motors recorded adjusted earnings before interest and taxes (EBIT) of $3.49 billion, lower than $3.87 billion in the prior-year quarter.
General Motors had cash and cash equivalents of $20.57 billion as of March 31, 2025. The long-term automotive debt at the end of the quarter was $13.44 billion. The company recorded an adjusted automotive free cash flow of $811 million in the first quarter of 2025, down from $1.09 billion generated in the year-ago quarter.