Harley-Davidson Inc Stock Revs Up on Strong Q1 Earnings

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Harley-Davidson Inc (NYSE:HOG) stock was on the rise today following the release of a strong earnings report for the first quarter of 2018.

Harley-Davidson Inc (HOG) Stock Revs Up on Strong Q1 Earnings

Harley-Davidson Inc reported earnings per share of $1.24 for the first quarter of the year. This is an improvement over its earnings per share of $1.05 from the first quarter of 2017. It is also a boon to HOG stock by coming in well above Wall Street’s earnings per share estimate of 88 cents for the period.

During the first quarter of the year, Harley-Davidson Inc reported net income of $174.76 million. This is a drop from its net income of $186.37 million reported in the same period of the year prior.

Operating income of $236.42 million was reported by Harley-Davidson Inc for the first quarter of 2018. This is down from the motorcycle company’s operating income of $289.18 million that was reported in the first quarter of the previous year.

Harley-Davidson Inc’s revenue of $1.36 billion was also good news for HOG stock today. This is an increase over its revenue of $1.33 billion that was reported for the same time last year. It also beat out analysts’ revenue estimate of $1.25 billion for the quarter.

Harley-Davidson Inc also took time in its earnings report to reaffirm its guidance. For the full year of 2018, it is expecting motorcycle sales to range from 231,000 to 236,000. It’s outlook for the second quarter of the year has motorcycle sales coming in between 67,500 to 72,500.

HOG stock was up 2% as of noon Tuesday.

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/2018/04/harley-davidson-stock-up-on-q1-earnings/.

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