Milwaukee's Harley-Davidson Posts Q1 Profit Amid LiveWire Struggles

MILWAUKEE — Harley-Davidson Inc. reported first-quarter 2025 earnings on May 1 that surpassed analyst forecasts, delivering diluted earnings per share of $1.07 despite steep declines across core metrics. Consolidated revenue fell 23% to $1.33 billion, with Harley-Davidson Motor Company (HDMC) revenue dropping 27% to $1.08 billion, primarily from planned reductions in motorcycle shipments to manage inventory. Global retail motorcycle sales skidded 21% year-over-year, hit by a volatile macroeconomic environment and consumer hesitation, company executives said in the earnings release.[1][3][4] The company's Milwaukee headquarters oversees operations at its vast 1.8 million-square-foot Menomonee Falls campus north of the city, where engineers and assembly line workers produce the iconic bikes that define Wisconsin's industrial heritage. HDMC's operating income margin held at 10.8%, while financial services arm HDFS posted a robust 26.1% margin. Harley repurchased $87 million in shares, or 3.4 million shares, signaling confidence in its long-term strategy despite the downturn.[1][4] LiveWire, Harley's electric motorcycle brand, showed mixed signals with revenue down 42% to $3 million and unit sales plunging 72% to just 33 bikes in the quarter. Yet the segment slashed its operating loss by 32% to $20 million, aided by $7.3 million in cost reductions from 2024 initiatives cutting selling, administrative and engineering expenses. As Wisconsin pushes green manufacturing incentives, LiveWire's S2 Alpinista and Multistrada V4 models aim to electrify the state's riding culture, though demand lags.[3][4][5] Harley-Davidson stock, trading on NYSE as HOG, closed at $22.42 on April 30, 2025 — near its 52-week low — but ticked up 1.87% in premarket after the report. The company's disciplined approach offers a lifeline for Milwaukee's 5,000-plus local employees and suppliers stretching from Kenosha to Janesville.[4]