Q4 2025 LiveWire Group Inc Earnings Call Transcript
Key Points
- LiveWire Group Inc (LVWR) has made significant progress in reducing dealer inventory, with a 17% global reduction, exceeding their 10% target.
- The company is focusing on improving dealer profitability and aligning wholesale activity with retail demand, which has shown early positive results.
- LiveWire Group Inc (LVWR) is committed to enhancing financial flexibility and has renegotiated a term loan, reducing the principal to $75 million.
- The company is taking steps to improve its e-commerce strategy to drive incremental dealership traffic and support motorcycle sales.
- LiveWire Group Inc (LVWR) has seen a 61% increase in electric motorcycle units and a 7% increase in STACYC units in Q4 2025, indicating strong growth in these segments.
- LiveWire Group Inc (LVWR) reported a consolidated operating loss of $361 million in Q4 2025, compared to a loss of $193 million in 2024.
- The company faces challenges with macroeconomic conditions impacting international retail sales, particularly in EMEA, which declined by 24% in Q4 2025.
- Tariff costs have increased, with a $67 million impact in 2025, and are expected to rise further in 2026, posing a financial burden.
- LiveWire Group Inc (LVWR) anticipates operating margins to be under pressure in the near term due to production running below wholesale levels.
- The company's e-commerce strategy has historically not delivered intended results, creating customer confusion and impacting dealer economics.
Thank you for standing by, and welcome to the Harley-Davidson 2025 fourth-quarter investor and analyst conference call. Please be advised that today's conference is being recorded.
I would now like to hand the conference over to Shawn Collins. Thank you. Please go ahead.
Thank you. Good morning. This is Shawn Collins, the Director of Investor Relations at Harley-Davidson. You can access the slides supporting today's call on the internet at the Harley-Davidson investor relations website.
As you might expect, our comments will include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted in today's earnings release and in our latest filings with the SEC.
Joining me for this morning's call are Harley-Davidson Chief Executive Officer, Artie Starrs; and Chief Financial Officer and President of Commercial, Jonathan Root.
With that, let me turn it
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