LiveWire Group, Inc. (LVWR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by, and welcome to the Harley-Davidson 2025 First 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 Sean Collins. Thank you. Please go ahead. Thank you. Good morning. This is Sean Collins, the Director of Investor Relations at Harley-Davidson. You can access the slides supporting today's call on the internet at theharleydavidson.com. Investor Relations website. As you might expect, our comments today will include forward-looking statements that are subject to risks that could cause actual results to be mutually different. Those risks include, among others, matters we have noted in today's earnings release and in our latest findings with the SEC. Joining me for this morning's call are Harley Davidson Chief Executive Officer Jochen Zeit, also Chief Financial Officer and President of Commercial, Jonathan Root. And we have Livewire's Chief Executive Officer, Karine Denez, available for questions. With that, let me turn it over to our CEO, Jochen Seitz. Jochen, over to you. Thank you, Sean. Good morning, everyone, and thank you for joining today's call. HDI operating income margin for the quarter came in at 12.1%. Our bottom line performance was better than expected, driven by strong product mix, tight cost control in logistics, supply chain, and in our operating expenses, as we left significant spend related to our model year 24 touring launch. Global retail sales were down 21% in Q1 and down 24% in North America, softer than we expected, primarily in the US market, driven by historically low levels of consumer confidence in the uncertain macro environment. With the decision to roll out our model year 25 campaign later in the year in the US to b...