Harley-Davidson Q1 net income plunges 81% on finance unit contraction, tariff costs

Filed May 5, 2026 · Period ending May 5, 2026 · ~1 min read

Key Changes

• high

  Net income fell 81% to $25M and EPS dropped 79% to $0.22 as HDFS revenue declined 54% following H2 2025 loan asset sale; consolidated operating margin compressed from 12.1% to 2.0%.

  Exhibit 99.1 verify on EDGAR →
• high

  HDMC gross margin fell 3.9 points to 25.3% on new/increased tariffs, pricing pressures, and unfavorable mix; operating expenses rose $49M including $15M restructuring charges.

  Exhibit 99.1 verify on EDGAR →
• high

  HDFS operating income dropped 65% to $22M as net finance receivables fell 67% to $2.4B post-asset sale; lower interest expense and credit provisions partially offset revenue decline.

  Exhibit 99.1 verify on EDGAR →