Harley-Davidson Q2 revenue falls 19%, EPS $0.88 vs $1.63; HDFS deal unlocks $1.25B
Harley-Davidson reported second quarter 2025 revenue of $1,307 million, down 19% from $1,619 million a year earlier, and diluted EPS of $0.88 versus $1.63. The company also said its Harley-Davidson Financial Services unit entered a strategic partnership with KKR and PIMCO, which it expects to unlock $1.25 billion in cash that management plans to use partly to reduce debt and buy back shares.
Key points
- Q2 2025 operating income was $112 million, down 53%, and net income attributable to Harley-Davidson was $108 million, down 51%.
- Global motorcycle shipments fell 28% and worldwide retail sales fell 15% in the quarter.
- KKR and PIMCO investment vehicles will buy a 4.9% common equity interest in HDFS, valued at about 1.75x post-transaction book value.
- The company plans to reduce debt by $450 million and buy $500 million of shares in the second half of 2025; full-year HDFS operating income is now expected at $525-$550 million.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:38 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 30, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.