HOG - Why Harley-Davidson Is Plunging 18% Today
Shares of Harley-Davidson (NYSE: HOG) were tumbling 19% in midday trading Tuesday after the company reported fourth-quarter and full-year 2020 earnings that fell well short of expectations.
After the motorcycle maker's third-quarter report held out hope the company's reworked turnaround plan called The Hardwire might be gaining traction , the latest numbers show Harley is still mired in the same quagmire it has been.
Where Wall Street anticipated Harley would post an adjusted profit of $0.21 per share, it actually came in with a big $0.44 per-share loss. Last year it posted a $0.20 per-share profit.
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Why Harley-Davidson Is Plunging 18% Today