Harley's More Roads strategy implementation could pay off in 2020 and beyond.
The effects of tariffs are finally set to kick in at wide-moat Harley-Davidson, leading motorcycle operating margins to compress to 9%-10% (including restructuring costs and versus 9.5%-10.5% prior) in 2018, from 13% in 2017. Even excluding restructuring and tariffs, however, the company would anticipate flat operating margin performance in 2018--the lowest level since 2011--as the company undertook massive restructuring efforts heading out of the last recession. We expect some of the tariff bur...Harley-Davidson is the parent company of Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The company's segments are: Motorcycles and Related Products, which consists of HDMC that designs, manufactures and sells Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise and services; and Financial Services, which consists of HDFS that is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson motorcycles. HDFS also provides motorcycle insurance and protection products to motorcycle owners.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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