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.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
