HOG: Harley-Davidson Stock Revs Up on Earnings Beat

by Christopher Freeburn | April 22, 2014 11:04 am

On Tuesday, Harley-Davidson (HOG[1]) reported first-quarter earnings that topped Wall Street forecasts[2]. HOG stock surged almost 8% on the news.

Back of black Harley-Davidson motorcycle 630 HOG[3]

HOG shares jumped after the motorcycle-maker said it earned $265.9 million during the quarter, up 18.7% from $224.1 million in the prior-year period. EPS came in at $1.21, easily beating the $1.07 that analysts had predicted, the Associated Press noted.

Revenue at HOG climbed to $1.73 billion, up from $1.57 billion in the year-ago quarter. Despite snowy weather, U.S. motorcycle sales increased 3%. By contrast, Asia-Pacific region motorcycle sales vaulted more than 20%, while sales in Europe, the Middle East and Africa climbed 8.2%.

Worldwide, HOG said it sold 57,415 motorcycles during the quarter[4], including 35,730 in the U.S. In a release, Keith Wandell, Harley-Davidson’s Chairman, President and CEO, noted that HOG was “encouraged by the continued growth of new Harley-Davidson motorcycle sales in Europe.”

HOG is standing by its previously-issued guidance of between 7% and 9% growth in motorcycle shipments this year. Harley-Davidson says it anticipates second-quarter motorcycle shipment growth of between 9% and 15% compared to last year.

On Monday, HOG stock closed at $67.54 a share.

More Stocks in the News:

Endnotes:

  1. HOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=HOG
  2. that topped Wall Street forecasts: http://www.washingtonpost.com/business/harley-davidson-1q-earnings-up-187-percent/2014/04/22/3de2467c-ca18-11e3-b81a-6fff56bc591e_story.html
  3. [Image]: https://investorplace.com/wp-content/uploads/2011/07/harley_davidson_black_motorcyle_630_flickr.jpg
  4. sold 57,415 motorcycles during the quarter: http://www.harley-davidson.com/en_US/Content/Pages/HD_News/Company/news.html?article=en_US/News/2082_press_release.hdnews
  5. IBM Stock Falls on Disappointing Earnings, Hardware Sales: https://investorplace.com/2014/04/ibm-stock-falls-disappointing-earnings-hardware-sales/#.U0_wJF5hOf0
  6. AXP: American Express Stock Slips Despite Earnings Beat: https://investorplace.com/2014/04/axp-american-express-stock-slips-despite-earnings-beat/#.U0_qO15hOf1
  7. Check Out the Attractive Bounce in PNC Stock: https://investorplace.com/2014/04/pnc-stock-financials/#.U0_kCF5hOf0

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