The following is a summary of the LiveWire Group, Inc. (LVWR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Consolidated revenue in Q3 2024 was down 26%.

• Consolidated operating income in Q3 2024 was $106 million, down 49% from the prior year.

• Earnings per share for Q3 2024 was $0.91, down 34% from $1.38 last year, and year-to-date earnings per share was $4.27, down 8% compared to the same period in 2023.

Business Progress:

• Introduced a new lineup of touring motorcycles which includes the all-new Road Glide and Street Glide, receiving outstanding feedback.

• The company is revising its full-year 2024 outlook due to lower than expected retail demand.

• LiveWire has focused on right-sizing the business, reducing cash burn by an expected 40% in the next year, and expects to launch a new product segment at EICMA in November.

Opportunities:

• Motorcycles, especially touring models, continue to see growth and market share gains despite overall sector challenges.

• Potential additional revenue streams from LiveWire's upcoming product segment announcement at EICMA.

Risks:

• Ongoing macroeconomic and political uncertainty and high interest rates continue to impact the industry and consumer spending, affecting sales particularly in big ticket discretionary sectors.

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