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Harley-Davidson's Q3 Results Meet On Earnings, Sales

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Harley-Davidson Inc (NYSE: HOG) delivered in-line EPS and revenue for the third quarter. The company maintained its shipment outlook for 2016.

The company disclosed net income of $114.07 million, or $0.64 a share, down from $140.35 million, or $0.69 a share, in the year-ago quarter. This is in line with Street estimates of $0.64 per share.

Harley-Davidson's revenue fell from $1.14 billion to $1.09 billion. However, sales met with the Street expectations.

President and CEO Matt Levatich commented, "We are pleased with the positive results and the enthusiasm we've seen for our Model Year 2017 motorcycles, featuring the new Milwaukee-Eight engine. We are confident that the entire line-up will drive retail sales growth for the remainder of 2016 and position us well heading into the spring riding season next year."

For the full year 2016, the motorcycle maker maintained its shipment forecast of 264,000–269,000 representing a fall of one percent to up one percent from last year. As far as the fourth quarter, the company sees shipment of 44,200 to 49,200 motorcycles.

There was no change in stock price in the pre-market trading.

Posted-In: Earnings News

 

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