HOG - After Solid Quarter Harley-Davidson And Its International Growth Are Cheap
Investment Thesis
When Harley-Davidson (HOG) reported 3rd quarter 2018 earnings results, the company surpassed market expectations with revenue growth of 16.4% year over year and diluted EPS nearly doubling to $0.78. This impressive growth came as the company’s domestic business in the United States continued to decline amidst a decline in consumer sentiment and further competition. The motorcycle manufacturer has been able to fully offset the domestic slowdown by growth in international markets. This growth is occurring despite headwinds surrounding international trade resulting in tariffs in some markets. This international growth has allowed