The Harley-Davidson earnings report for the fourth quarter of 2018 is hitting HOG stock hard on Tuesday.
Harley-Davidson (NYSE:HOG) reported that earnings per share came in at 17 cents for the fourth quarter of the year. This is a drop from its earnings per share of 47 cents from the same time last year. It is also a blow to HOG stock by missing Wall Street’s earnings per share estimate of 28 cents for the quarter.
Harley-Davidson earnings for the fourth quarter of 2018 also include net income of $495,000. This is a major decline from the company’s net income of $8.31 million that was reported in the fourth quarter of 2017.
Operating income in the Harley-Davidson earnings report for the fourth quarter of the year was $3.74 million. The motorcycle company reported operating income of $99.20 million in the same period of the year prior.
The most recent Harley-Davidson earnings release also has it reporting revenue of $955.63 million. This is down from the company’s revenue of $1.05 billion that was reported in the fourth quarter of the previous year. It also fails to reach analysts’ revenue estimate of $1.05 billion for the period, which makes it bad news for HOG stock.
Harley-Davidson also notes that it is expecting motorcycle shipments for the full year of 2019 to range from 217,000 to 222,000. In comparison, motorcycle shipments for the full year of 2018 were 228,665. That was also a drop from its motorcycle shipments of 241,498 in 2017.
HOG stock was down 7% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
