Filing Flows › Harley-Davidson (HOG) › Q2 2026 › vs Q1 2026
Harley-Davidson (HOG) Q2 2026 vs Q1 2026 (quarter over quarter)
Harley-Davidson's revenue rose $57.9M (+5%) from $1.2B in Q1 2026 to $1.2B in Q2 2026. The biggest changes: Non-Financial Services Entities +$48.8M (+5%); Other revenues +$5.1M (+5%); LiveWire +$4.0M (+78%). Operating margin 6.2% against 2.0% (+4.2 pts).
Harley-Davidson, Q2 2026: revenue $1.2B (-6% year over year), operating margin 6.2%, net earnings $79.8M, operating cash flow $168M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 6.2% | 2.0% | +4.2 pts |
| Net margin | 6.5% | 2.1% | +4.4 pts |
| Free cash flow margin | 12.6% | -22.2% | +34.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Non-Financial Services Entities | $1.1B | $1.1B | $48.8M | +5% |
| LiveWire | $9.1M | $5.1M | $4.0M | +78% |
| Other revenues | $117M | $112M | $5.1M | +5% |
| Revenue | $1.2B | $1.2B | $57.9M | +5% |
| Other income, net | $19.3M | $18.6M | $662K | +4% |
| Operating profit | $76.0M | $23.5M | $52.5M | +224% |
| Costs & expenses | $1.2B | $1.1B | $5.4M | +0.5% |
| Pre-tax earnings | $95.3M | $42.1M | $53.2M | +126% |
| Cost of revenue | $809M | $794M | $15.2M | +2% |
| SG&A | $297M | $302M | −$5.5M | -2% |
| Other operating costs | $48.2M | $52.5M | −$4.2M | -8% |
| Loss borne by minority interests | $824K | $650K | $174K | +27% |
| Net earnings | $79.8M | $24.8M | $55.0M | +222% |
| Income tax | $16.3M | $18.0M | −$1.7M | -9% |
| Depreciation & amortization | $42.6M | $44.1M | −$1.6M | -4% |
| Share-based compensation | $9.5M | $8.5M | $948K | +11% |
| Working capital & other | $36.5M | −$305M | $342M | — |
| Operating cash flow | $168M | −$228M | $396M | — |
| Free cash flow (OCF − capex) | $155M | −$260M | $415M | — |
| Capital expenditures | $12.9M | $31.8M | −$18.9M | -59% |
Questions
How much did Harley-Davidson's revenue grow quarter over quarter in Q2 2026?
Harley-Davidson's revenue rose $57.9M (+5%) from $1.2B in Q1 2026 to $1.2B in Q2 2026.
What drove Harley-Davidson's revenue change in Q2 2026?
Non-Financial Services Entities +$48.8M (+5%); Other revenues +$5.1M (+5%); LiveWire +$4.0M (+78%).