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.
### (HOG-OTHER)
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SOURCE Harley-Davidson, Inc.