HOG - Harley Davidson stock skids on earnings miss

Harley Davidson, Inc. (NYSE:HOG) shares decelerated in pre-market hours after the company posted a profit short of Wall Street expectations on Wednesday morning. The Milwaukee-based motorcycle manufacturer reported $1.45 in earnings per share for the first quarter, just one cent short of estimates while revenue of $1.5 billion edged past expectations by $170 million. Year over year, operating income fell 16%. Management noted strong consumer demand across product offerings, but admitted the impacts of supply chain disruptions and macroeconomic headwinds had an adverse effect on results.  “Global pricing contributed approximately 4 points of margin benefit and largely offset the cost inflation,” the release reads. “However, gross margin was also negatively impacted by unfavorable motorcycle mix due to the inability to produce to demand given the semiconductor challenges.” To be sure, the company reaffirmed its HDMC full year outlook of 5% to 10% revenue growth and operating income margin of 11%

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Harley Davidson stock skids on earnings miss