HOG - Harley-Davidson soars after surprising with profitable quarter
Harley-Davidson (NYSE:HOG) reported consolidated revenue was up 40 percent in Q4 as stronger unit sales and product mix contributed. The company noted that consolidated net income in the fourth quarter reflected the financial services segment operating income offsetting the motorcycles and parts segment operating losses in the seasonally slow quarter. Gross margin was down two percentage points during the quarter compared to a year ago as stronger units and pricing were offset by negative cost headwinds across the supply chain and higher additional EU tariffs. U.S. motorcycle shipments were 15,719 during the quarter vs. 10,372 a year ago. Worldwide motorcycle shipments were 29,075 vs. 20,921 a year ago. CEO update: "Looking ahead, we are fully committed to achieving our long-term Hardwire Strategy, as the most desirable motorcycle brand and company in the world." Shares of Harley-Davidson (HOG) surged 7.28% in premarket action to $38.75 following the sizable profit beat.
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Harley-Davidson soars after surprising with profitable quarter