LUV - Harley-Davidson rides higher after revenue topper

2023-07-27 07:32:18 ET

Harley-Davidson ( NYSE: HOG ) gained in early trading after posting a mixed Q2 earnings report.

The company reported motorcycle shipments in Q2 of 42,900, which was down 10% from a year ago and fell short of the consensus estimate of 47,277. The motorcycle maker also fell short of estimates on the EPS line, with $1.22 vs. $1.46 a year ago. Operating income was down 20% year-over-year to $221M and EPS fell 16% to $1.22. However, a revenue tally for HOG of $1.44B edged past the consensus mark.

"We are confident in our ability to navigate near-term headwinds and remain optimistic on the future, most notably following the successful launch of our game-changing CVO’s and the highly attended gathering of our community during our anniversary year, reinforcing the enduring power of the brand," updated CEO Jochen Zeitz. Looking ahead, Harley-Davidson ( HOG ) expects a full-year operating income margin of 13.9% to 14.3% vs. 14.2% consensus. HOG also sees a HDFS operating income decline of 20 to 25%. The LiveWire segment is seen generating an operating loss of $115M to $125M. Capital investments of $225M to $250M are anticipated.

Shares of Harley-Davidson ( LUV ) gained 2.97% in premarket action to $38.79.

More on Harley-Davidson:

• Harley-Davidson: Seems Like A Value Trap
• Growth metrics on Harley-Davidson
• Relative strength index and moving averages on Harley-Davidson
• Seeking Alpha's Quant Rating for Harley-Davidson

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