Harley-Davidson Jumps 5% on Q1 Results

Shares of Harley-Davidson

have been moving aggressively higher during Wednesday's trading session after releasing its Q1 earnings results prior to the opening bell. At last check, the stock had added 5.02% to $52.89. The iconic motorcycle manufacturer reported net income of $172.04 million or $0.74 per share, compared to $119.26 million or $0.51 per share, in the year ago period. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.72. Revenues at the company rose to $1.27 billion from $1.06 billion in last year's first quarter. This also beat analysts' consensus estimates of $1.22 billion. Keith Wandell, chairman, president and chief executive officer of Harley-Davidson, stated, "We continue to be encouraged by the strong trend at retail and in earnings over the past several quarters. Our first quarter performance reflects the outstanding appeal of our products, the ongoing results of our transformation strategy, the efforts of our dealers and employees, and improving macro-economic conditions in the U.S."