Harley-Davidson reported higher North American motorcycle retail sales in the third quarter and raised its full-year guidance for both its motorcycle business and financial-services arm for the second time this year. The company also expanded its board from eight directors to 10, adding two independent directors with experience in industrial operations, audit oversight and corporate governance.
Key details
- North American retail sales strengthened. Sales of new motorcycles in the region rose 9% year over year in the third quarter, up from 3% growth in the prior quarter. Harley-Davidson said this was the fourth consecutive quarter of year-over-year growth.
- Full-year guidance was raised again. The company increased its outlook for Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS), citing strong execution in the third quarter. The provided announcement text does not include the revised guidance ranges or detailed third-quarter financial figures.
- The board added two directors, effective October 28. Anthony Fassino and Bryan Slone will serve through the 2027 annual shareholder meeting. Both were deemed independent under New York Stock Exchange rules; the board had not yet assigned them to committees.
- Fassino brings industrial operating experience. He recently retired as Caterpillar’s group president of Construction Industries, where he led a business described as approximately $25 billion. His 30-year Caterpillar career included roles in engineering, product development, manufacturing, sales and distribution.
- Slone brings financial, legal and governance experience. He is a former Deloitte managing partner and former president and CEO of the Nebraska Chamber of Commerce & Industry, and currently serves as counsel at Koley Jessen. He also sits on several company boards and chairs their audit committees.
- Director compensation includes cash-and-equity components. Each new director will receive a prorated portion of the $110,000 annual retainer for non-employee directors, with at least half paid in company shares or share units. Each will also receive an annual share-unit award valued at $145,000 after attending a first board meeting.
The appointments expand the board’s size and add operating and audit-oversight experience. The guidance increase signals a stronger full-year outlook for both the motorcycle and financial-services businesses, though the revised targets are not included in the available announcement text.