Harley-Davidson Inc (NYSE:HOG) stock was down on Tuesday following the release of its earnings report for the first quarter of 2017.
Revenue reported by Harley-Davidson Inc during its first quarter of 2017 was $1.33 billion. This is a drop from the $1.58 billion in revenue that it reported in the first quarter of 2016. It also came in below analysts’ revenue estimate of $1.35 billion for the first quarter of the year.
During the first quarter of 2017, Harley-Davidson Inc reported earnings per share of $1.05. This is a decrease from its earnings per share of $1.36 that was reported during the same time last year. However, it did come in above Wall Street’s earnings per share estimate of $1.02 for the quarter.
Harley-Davidson Inc reported operating income of $291.48 million in its first quarter of the year. This is down from its operating revenue of $388.83 million from the same period of the year prior.
Net income reported by Harley-Davidson Inc in its first quarter of 2017 was $186.37 million. The motorcycle company reported net income of $250.49 million during its first quarter of the previous year.
Harley-Davidson Inc says that it expects motorcycle sales for the full year of 2017 to be flat to slightly down when compared to 2016. It is also expecting operating and gross margin as a percent of revenue to be about the same as last year. It expects capital expenditures will range from $200 million to $220 million in 2017.
Harley-Davidson Inc also announced that paid a cash dividend of 36.5 cents per share to investors during its first quarter of 2017. This is an increase over its cash dividend of 35 cents per share from the same time last year.
HOG stock was down 3% as of Tuesday morning.
