Filing Flows › Harley-Davidson (HOG) › Q1 2026
Harley-Davidson (HOG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Harley-Davidson (HOG) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), -12% from a year earlier and +136% from the quarter before. Operating margin was 2.0%, net earnings $24.8M (2.1% of revenue).
Harley-Davidson, Q1 2026: revenue $1.2B (-12% year over year), operating margin 2.0%, net earnings $24.8M, operating cash flow −$228M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +136% | -12% |
| Operating profit | $23.5M | — | -85% |
| Net earnings | $24.8M | — | -81% |
| Operating cash flow | −$228M | -250% | -261% |
What changed
Revenue was $1.2B in Q1 2026, down 12% year over year and up 136% from the previous quarter. Non-Financial Services Entities was the largest line at 90% of revenue. Non-Financial Services Entities lost $0.03B year over year (down 2%), 17% of the total change.
Operating profit was $0.02B, a 2.0% margin (down 10.1 points year over year). Total costs fell 2% while revenue fell 12%. The fastest-growing cost line was SG&A (+18%). Net earnings were $0.02B, down 81% year over year. The effective tax rate was 42.7%. Non-operating items added $0.02B, 44% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$0.23B. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.30B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.26B.
Questions
What was Harley-Davidson's revenue in the first quarter 2026?
Harley-Davidson (HOG) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), -12% from a year earlier and +136% from the quarter before.
Was Harley-Davidson profitable in the first quarter 2026?
Operating profit was $23.5M (2.0% of revenue) and net earnings $24.8M.
Source: Harley-Davidson 10-Q on SEC EDGAR.