BofA previews Powersports earnings ahead of reports

Investing.com -- Bank of America maintains its earnings estimates near the high end of full year outlooks for Harley-Davidson Inc (NYSE: HOG) and Polaris Inc (NYSE: PII) ahead of their upcoming quarterly reports.

The bank said both companies provided appropriate guidance for 2026 given macro volatility and tariff uncertainty at the time. Investor focus will center on commentary about consumer health, particularly since both companies sell high-priced items with financing attached.

Harley-Davidson is scheduled to report on Thursday, with BofA forecasting second-quarter shipments of 40,023 motorcycles, matching consensus expectations. The bank expects the company to maintain its full-year shipment estimate of 130,000 to 135,000 units. BofA adjusted its quarterly margin projections to align with unit shipment forecasts, resulting in second-quarter EBITDA and earnings per share estimates of $110 million and $0.60, below consensus of $117 million and $0.67. The bank's full-year estimates remain at the high end of guidance for Harley-Davidson Motor Company, LiveWire, and Financial Services divisions. BofA reiterated its Buy rating on the stock.

Polaris is set to report on July 28, with BofA projecting results near the high end of guidance. The bank's second-quarter earnings per share estimate of $0.80 sits at the upper end of the company's $0.70 to $0.80 guidance range, compared to consensus of $0.72. BofA forecasts Powersports sales growth of 15% and high-single digit growth in Marine and Aixam/Goupil divisions. The bank maintains its 2026 earnings per share estimate of $1.75, slightly above the company's $1.60 to $1.70 outlook, and reiterates its Neutral rating.

Recent US retail registration data from Statistical Surveys showed stable trends through April before weakness in May. Motorcycle unit registrations grew in the low-single digits through April before declining 13% in May. ATV registrations followed a similar pattern, rising in the low-single digits before falling 8% in May.

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