Harley‑Davidson reported Q3 2025 revenue of $1.34 billion, up 17 % from $1.151 billion in the same quarter of 2024. Earnings per share were $3.10, a 244 % increase over the $0.91 EPS reported in Q3 2024. Operating income rose to $475 million, up 349 % from $106 million a year earlier, while net income attributable to the parent reached $377 million.
The company’s HDMC segment generated $1.08 billion in revenue, up 23 % YoY. Within HDMC, motorcycle sales increased 34 %, parts and accessories sales fell 4 %, and apparel sales grew 1 %. LiveWire revenue grew 16 % to $?? million, reflecting higher unit sales.
Harley‑Davidson’s financial‑services unit benefited from a transaction that sold approximately $6 billion of loan receivables and established a forward‑flow agreement for future originations. The deal lifted HDFS operating income to $439 million and is expected to generate roughly $1.25 billion in discretionary cash. Management plans to use the cash to reduce debt, accelerate share repurchases, and fund future growth initiatives.
The company incurred a tariff charge of $27 million in Q3 2025. Harley‑Davidson is focusing on core product innovation, including the launch of a new “Sprint” model and continued expansion of its LiveWire electric‑motorcycle line. The company has withheld a full‑year outlook due to ongoing tariff uncertainty and macroeconomic conditions.
Harley‑Davidson beat consensus estimates, with revenue exceeding the $999.74 million estimate and EPS surpassing the $1.38 estimate. The results underscore the company’s turnaround in profitability and the positive impact of the HDFS transaction.
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