Market Overview

Harley-Davidson Cruising Higher Following Q4 Print

Share:

Shares of Harley-Davidson Inc (NYSE: HOG) were trading higher by more than 8 percent at $40.68 early Thursday morning after the company reported its fourth quarter results.

Harley-Davidson earned $0.22 per share in its fourth quarter on revenue of $1.18 billion. Wall Street analysts were looking for the company to earn $0.19 per share on revenue of $1.03 billion.

Net income for the quarter fell to $42.2 million from $74.50 million in the same quarter a year ago. Net income for the full fiscal year fell to $752.2 million from $844.6 million on total revenue of $6.0 billion.

Harley-Davidson noted its business was "adversely affected by heightened competitive pressures including those arising from shifts in world currencies."

Looking forward to the full fiscal year 2016, Harley-Davidson expects to deliver 269,000 to 274,000 units, representing an increase of 1 to 3 percent year-over-year.

"We are focused, with strength and resolve, on growing demand and building on our substantial market leadership position," said Matt Levatich, President and Chief Executive Officer, Harley-Davidson, Inc. "Although we expect the macro-economic environment to remain challenging, we are confident we'll continue to lead with our powerful brand – not simply because of our substantial strengths but through our increased demand driving investments and our incredibly talented and passionate employees and dealers."

Posted-In: Harley-Davidson Matt Levatich Motorcycle motorcycle stocksEarnings News Guidance Movers

 

Related Articles (HOG)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Benzinga's Top Upgrades

Divergences Between Equities, High-Yield Bond ETFs