Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales

Advertisement

Harley-Davidson Inc (NYSE:HOG) stock was riding high today despite falling sales in its third quarter of 2017.

Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales

Harley-Davidson Inc reported revenue of $962.14 million in the third quarter of the year. This is down from its revenue of $1.09 billion that was reported during the third quarter of 2016. Despite the drop in sales, HOG still beat Wall Street’s revenue estimate of $953.26 million for the quarter.

Harley-Davidson Inc notes that there were a few factors that affected its revenue in the third quarter of 2017. The first is the impact from recent hurricanes in the southeast and Texas on motorcycle sales in the U.S. The company also says that international motorcycle sales were down in Japan, Australia and Mexico.

During the third quarter of 2017, Harley-Davidson Inc saw its Motorcycles and Related Products segment revenue drop due to lower motorcycle shipments. Motorcycle shipments were down roughly 14% in the quarter.

HOG stock was also likely helped today by earnings per share of 40 cents for the third quarter of the year. While this is down from Harley-Davidson Inc’s earnings per share of 64 cents from the same time last year, it still comes in above analysts’ 39-cent estimate for the quarter.

Harley-Davidson Inc says that it still expects motorcycle shipments for the full year of 2017 to range from 241,000 to 246,000 units. The company notes that this represents a decrease between 6% and 8% when compared to motorcycle shipments for the prior year.

HOG stock was up 2% as of Tuesday afternoon, but is down 17% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/harley-davidson-earnings-inc-hog-stock/.

©2024 InvestorPlace Media, LLC