HOG - Is Harley-Davidson Speeding Back to Success With Its Adventure Touring Bike?
After years of financial stalls and skids as its large, expensive bikes failed to appeal to younger customers, Harley-Davidson (NYSE: HOG) might be back on the high road to success thanks to its new strategic direction. The company's stock price started on a swift bull run after it released its third-quarter earnings report, beating expectations on the top and bottom lines.
Investors seem confident in new CEO Jochen Zeitz's strategy, but has the famous maker of "hogs" really turned the corner on its long-term woes? Here are two reasons the company could have smooth riding and strengthening growth ahead.
Harley-Davidson delivered forecast-beating third-quarter results on Oct. 27 , surpassing Wall Street expectations on both revenue and earnings. It also delivered more bikes than analysts expected, with third-quarter shipments rising 11.5% year over year from 43,983 in 2020 to 47,941. Shipments also narrowly outperformed consensus estimates of 47,330 by approximately 1.3%.
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Is Harley-Davidson Speeding Back to Success With Its Adventure Touring Bike?