Harley-Davidson, Inc. (NYSE:HOG) Q2 2018 Earnings Conference Call Transcript

Jul 24, 2018 • 09:00 am ET


Harley-Davidson, Inc. (NYSE:HOG) Q2 2018 Earnings Conference Call Transcript


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Good morning. My name is Heidi, and I will be your conference operator today. At this time, I would like to welcome everyone to the Second Quarter 2018 Earnings Conference Call. (Operator Instructions). After the speakers' remarks, there will be question-and-answer session. (Operator Instructions) Thank you.

Amy Giuffre, Director of IR, you may begin your conference.

Amy Giuffre

Thank you, Heidi, and good morning, everyone. You can access the slides supporting this call on harley-davidson.com. Click About Us at the top right and select Investors from the dropdown and click the Earnings Materials Box in the center of the page.

(Forward-Looking Cautionary Statements).

Joining me this morning are President and CEO, Matt Levatich; and CFO, John Olin. Matt, let's get started.

Matt Levatich

Thanks, Amy, and good morning, everyone. You saw in our press release this morning that we'll be sharing our accelerated strategy next Monday. We're eager to share the specific details with all of our stakeholder because we're excited about the impact of our plans to strengthen this great company and accelerate growth. Though we're not getting into the details today, I would like to talk about what we're driving toward and how we approach the development of the plan.

First, I want to thank the team for the great work they all did to put Harley-Davidson in a position to accelerate our strategy for growth. As employees, we all know we're stewards of an incredible legacy with unmatched passion and loyalty from everyone who associates with our brand. This universal passion is perhaps our greatest strength. We're also keenly aware the headwinds that Harley-Davidson faces today and into the future, and we are undeterred. We're driven by these challenges, we're fueled by the passion of our founders who set our true north back in 1993. If they were pioneers of a new kind of freedom back then, though we're today. Our plan is Harley-Davidson through and through ,and we'll redefine existing boundaries of our brand, reaching more customers through new types of products and channels and doing so in a way that reinforces all we stands for as a brand and as a company to secure the legacy of Harley-Davidson freedom for generations to come. As we set out to develop the strategy, we started with a realistic assessment of the risks, opportunities and capabilities needed to stabilize and strengthen our base business, reinvigorate the US business, accelerate the pace of international growth and drive value for the long-term. We leveraged our data-driven insights and leaned into our substantial competitive advantages, keeping clear focus on all it will take to grow ridership by both inspiring new riders and keeping our current riders engaged.

Last year, when we established our objectives to build more riders, our most important step was to put riding and the rider first in all of our thinking and in all of our actions. This rider-first focus is the backbone of our strategic planning and frankly all of our work. We know global consumer needs and interest in our