PR Newswire
MILWAUKEE, July 25, 2024
MILWAUKEE, July 25, 2024 /PRNewswire/ -- Harley-Davidson, Inc. ("Harley-Davidson," "HDI," or the "Company") (NYSE: HOG) today announced a new plan to repurchase $1 billion of its outstanding common stock through 2026. Under the plan, the Company will be using a new Board-approved share repurchase authorization, in addition to shares the Board already authorized for repurchase and expects to fund the share repurchases with cash flow from operations. This announcement replaces existing share repurchase plans and is in addition to the $875 million in share repurchases since 2022 that the Company has completed to return cash to its shareholders.
"Through both the Rewire and the Hardwire, we have focused on cost efficiency and profitable growth to set the Company up for future success, as demonstrated by more than doubling unit profitability since 2019. As we look ahead, we remain focused on the profitability of our business and deploying our capital efficiently. We expect this will allow us to continue to return cash to shareholders," said Jochen Zeitz, Chairman, President, and CEO, Harley-Davidson.
Cautionary Note Regarding Forward-Looking Statements
The Company intends that certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by reference to this footnote or because the context of the statement will include words such as the Company "believes," "anticipates," "expects," "plans," "may," "will," "estimates," "targets," "intends," "forecasts," "sees," "feels," or words of similar meaning. Similarly, statements that describe or refer to future expectations, future plans, strategies, objectives, outlooks, targets, guidance, commitments or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this press release. Such risks and uncertainties include the following, among other factors: (i) unfavorable market and economic conditions, (ii) the trading price of its common stock, (iii) the nature and magnitude of other investment opportunities available to the Company from time to time, (iv) legal constraints on trading at certain times; and (v) the availability of cash. Delaying, limiting or suspending the Company's stock repurchase program may negatively affect performance versus earnings per share targets, and ultimately its stock price. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are only made as of the date of this press release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Harley-Davidson, Inc.
