HOG - Harley-Davidson beats Q3 top and bottom line estimates; reaffirms FY23 outlook

2023-10-26 07:08:19 ET

• Harley-Davidson press release ( NYSE: HOG ): Q3 GAAP EPS of $1.38 beats by $0.03 .
• Revenue of $1.55B (-6.1% Y/Y) beats by $190M .
• Effective tax rate was 22 percent.
• Cash and cash equivalents of $1.9 billion at the end of the quarter.
• 2023 Financial Outlook: For the full year 2023, the Company reaffirms its most recent guidance and continues to expect:
  • HDMC: revenue growth of flat to 3% and operating income margin of 13.9 to 14.3%.
  • HDFS: operating income decline of 20 to 25%.
  • LiveWire: motorcycle unit sales of 600–1,000 and operating loss of $115 to $125 million.
  • Harley-Davidson, Inc.: capital investments of $225 to $250 million.

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