Harley-Davidson Falls Short on Sales

Shares tumble despite the company's climbing profits

   
Harley-Davidson Falls Short on Sales

Shares of Milwaukee-based Harley-Davidson — part of InvestorPlace‘s Real America Index — were off 9% after its most recent earnings report, despite a jump in earnings.

The company reported a profit of $247.3 million, or $1.07 a share, up from $190.6 million, or 81 cents a share, a year earlier — an improvement of 30% thanks to stronger sales of motorcycles in the U.S. and abroad, The Wall Street Journal reports. Analysts had only been expecting earnings of $1.05 a share.

Revenue, though, fell short of expectations. Wall Street estimated sales of  of $1.63 billion, but HOG only brought in $1.57 billion. Still, that was still a 17% year-over-year increase.

The company also lowered its guidance by $10 million because of restructuring costs, though.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/harley-davidson-falls-short-on-sales/.

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