Harley-Davidson Inc. Faces a potential credit rating downgrade to junk status following a fourth-quarter loss and revenue figures that fell short of analyst expectations, S&P Global Ratings indicated Wednesday.
The Milwaukee-based motorcycle manufacturer reported a loss of $2.44 per share for the quarter ending December 2025, significantly missing the Zacks Consensus Estimate of a loss of $0.92 per share. This represents a 165.22% negative earnings surprise, according to Zacks Equity Research. A year ago, the company reported a loss of $0.93 per share.
Revenue for the quarter totaled $390.55 million, a 9.4% decrease compared to the $430.89 million reported in the same period of 2024. The revenue figure also missed the Zacks Consensus Estimate by 25.93%. Harley-Davidson has now failed to meet or exceed consensus revenue estimates in three of the last four quarters, according to financial data provider Finviz.
The disappointing financial results prompted S&P Global Ratings to review the company’s creditworthiness. A downgrade to junk status would increase borrowing costs for Harley-Davidson and potentially limit its access to capital markets.
Despite the recent quarterly performance, Harley-Davidson shares have lost approximately 1.7% since the beginning of 2026, while the S&P 500 has gained 1.7% over the same period.
Management commentary on an upcoming earnings call is expected to provide further insight into the company’s performance and future outlook, according to Zacks Equity Research. The sustainability of the stock’s price movement will likely depend on that discussion.
