Filing Flows › Harley-Davidson (HOG) › Q3 2026 › vs Q2 2026
Harley-Davidson (HOG) Q3 2026 vs Q2 2026 (quarter over quarter)
Harley-Davidson's revenue fell $148M (-12%) from $1.2B in Q2 2026 to $1.1B in Q3 2026. The biggest changes: Non-Financial Services Entities −$140M (-13%); Other revenues −$6.3M (-5%); LiveWire −$1.2M (-14%). Operating margin 3.4% against 6.2% (-2.7 pts).
Harley-Davidson, Q3 2026: revenue $1.1B (-19% year over year), operating margin 3.4%, net earnings $42.8M, operating cash flow $336M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 3.4% | 6.2% | -2.7 pts |
| Net margin | 3.9% | 6.5% | -2.5 pts |
| Free cash flow margin | 29.2% | 12.6% | +16.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Non-Financial Services Entities | $964M | $1.1B | −$140M | -13% |
| LiveWire | $7.9M | $9.1M | −$1.2M | -14% |
| Other revenues | $111M | $117M | −$6.3M | -5% |
| Revenue | $1.1B | $1.2B | −$148M | -12% |
| Other income, net | $20.6M | $19.3M | $1.4M | +7% |
| Operating profit | $37.3M | $76.0M | −$38.7M | -51% |
| Costs & expenses | $1.0B | $1.2B | −$109M | -9% |
| Pre-tax earnings | $57.9M | $95.3M | −$37.4M | -39% |
| Cost of revenue | $701M | $809M | −$108M | -13% |
| SG&A | $291M | $297M | −$5.6M | -2% |
| Other operating costs | $52.6M | $48.2M | $4.4M | +9% |
| Loss borne by minority interests | $1.8M | $824K | $995K | +121% |
| Net earnings | $42.8M | $79.8M | −$37.0M | -46% |
| Income tax | $17.0M | $16.3M | $683K | +4% |
| Depreciation & amortization | $38.8M | $42.6M | −$3.8M | -9% |
| Share-based compensation | $7.4M | $9.5M | −$2.1M | -22% |
| Working capital & other | $247M | $36.5M | $210M | +576% |
| Operating cash flow | $336M | $168M | $167M | +99% |
| Free cash flow (OCF − capex) | $316M | $155M | $160M | +103% |
| Capital expenditures | $19.7M | $12.9M | $6.8M | +53% |
Questions
How much did Harley-Davidson's revenue grow quarter over quarter in Q3 2026?
Harley-Davidson's revenue fell $148M (-12%) from $1.2B in Q2 2026 to $1.1B in Q3 2026.
What drove Harley-Davidson's revenue change in Q3 2026?
Non-Financial Services Entities −$140M (-13%); Other revenues −$6.3M (-5%); LiveWire −$1.2M (-14%).