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HOG raises full-year guidance on tighter dealer lots and North American retail gains

7/24/2026

Global dealer inventory of new Harley-Davidson motorcycles ended the second quarter down 17 percent year-over-year, providing the physical footing for a guidance raise that moved the HDMC operating income midpoint up by $55 million.

(NYSE: HOG) reported second-quarter 2026 results on July 23, with HDMC adjusted EBITDA margin expanding 110 basis points to 10.4 percent and North American retail units up 3 percent to 29,751.

The company now guides full-year HDMC operating income to $10 million to $50 million, against a prior range of a $40 million loss to a $10 million profit.

Inventory draw and the wholesale-to-retail spread HDMC global motorcycle shipments reached 39,209 units in the quarter, up 9 percent versus prior year.

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