MILWAUKEE - Harley-Davidson, Inc. (NYSE: HOG), whose stock has declined 28% over the past six months according to InvestingPro data, today pushed back against H Partners’ recent accusations and urged shareholders to support its director nominees. The motorcycle manufacturer, trading at a modest P/E ratio of 8.6x, emphasized the integrity of its board and its commitment to acting in the best interest of all shareholders.
The company highlighted its ongoing CEO search and board refreshment process, stating that the three directors targeted by H Partners – Jochen Zeitz, Tom Linebarger, and Sara Levinson – are essential for the successful transition to a new company leader. Despite recent challenges, InvestingPro data shows the company maintains strong financial health with liquid assets exceeding short-term obligations and a 33-year track record of consistent dividend payments. Harley-Davidson noted that H Partners had previously supported the same CEO and directors they are now contesting.
In response to H Partners’ campaign, which Harley-Davidson described as misleading and disruptive, the board is encouraging shareholders to vote "FOR ALL" of the company’s nominees using the WHITE proxy card. The annual meeting is set to take place later this month.
Harley-Davidson’s statement also pointed out that H Partners had the opportunity to contribute to the CEO selection process but chose to withdraw. The company asserts that H Partners’ actions are an attempt to distract shareholders from the facts.
The statement from Harley-Davidson is based on a press release statement and comes amid a contentious proxy fight with H Partners leading up to the company’s 2025 annual meeting of shareholders. While nine analysts have recently revised their earnings expectations downward according to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ stocks, Harley-Davidson remains focused on its vision and mission, aiming to maintain its position as the most desirable motorcycle brand globally and to continue innovating in both traditional and electric motorcycle markets through its LiveWire brand.
In the broader context, the company has cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated.
Investors and shareholders are encouraged to review the definitive proxy statement and any other relevant documents filed with the Securities and Exchange Commission (SEC) for detailed information regarding the company’s annual meeting and director nominations.
In other recent news, Harley-Davidson Inc. reported its first-quarter 2025 financial results, exceeding analysts’ expectations with an earnings per share (EPS) of $1.07, compared to the forecasted $0.81. The company also reported revenue of $1.33 billion, surpassing the anticipated $1.11 billion. Despite these positive financial results, Harley-Davidson announced the withdrawal of its 2025 financial guidance, citing economic uncertainty and potential tariff impacts. In a separate development, Citi analysts raised their stock price target for Harley-Davidson to $24.00 from $23.00, maintaining a Neutral rating, following the company’s robust margin performance.
Institutional Shareholder Services Inc. (ISS) has endorsed all of Harley-Davidson’s director nominees for the upcoming Annual Meeting of Shareholders, amid criticism from H Partners regarding leadership changes. ISS acknowledged the positive impact of CEO Jochen Zeitz and the Hardwire Strategic Plan on the company’s trajectory. Meanwhile, Harley-Davidson has publicly disagreed with recommendations from proxy advisory firms Glass Lewis and Egan-Jones, which advised against its Director nominees, emphasizing the company’s progress under its strategic plan.
Harley-Davidson continues to face challenges in the global retail environment, with a 23% year-over-year decline in consolidated revenue. The company is focusing on reducing dealer inventory and enhancing its product lineup with new models. Additionally, Harley-Davidson is evaluating potential strategic partnerships for its financial services arm, Harley-Davidson Financial Services, to enhance value for stakeholders. The company remains committed to navigating a complex business environment influenced by tariffs and demand fluctuations.
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