Harley-Davidson Beats Wall Street Estimates (HOG)
Harley-Davidson (NYSE: HOG) released their quarterly earnings report prior to the opening bell this morning. The company reported first quarter net income of $33.33 million or $0.14 per share compared to $117.35 million or $0.50 per share in the year ago quarter.
Income from continuing operations fell to $68.74 million or $0.29 per share from $128.05 million or $0.55 in last year's corresponding quarter. Analysts had been expecting the Milwaukee based motorcycle manufacturer to report EPS of $0.24, so HOG came in ahead of expectations on an adjusted basis.
Net revenue came in at $1.04 billion versus $1.29 billion in Q1 2009. This beat Wall Street consensus estimates which were pegged at $1.02 billion. During the current trading session, HOG shares have gained 8.12% to $35.43 on heavy volume.
