HOG - Why Harley-Davidson Stock Is Off to the Races Today
Motorcycle maker Harley-Davidson (NYSE: HOG) reported strong third-quarter earnings Wednesday, and its stock revved higher. As of 11:55 a.m. ET, shares were trading near the session's high, up 13%.
Harley-Davidson beat analysts' expectations on both the top and bottom lines with $1.78 in earnings per share and $1.65 billion in sales. Analysts were looking for about $1.40 per share and $1.37 billion in sales. Revenue jumped 21% compared to the prior-year period, while net income soared by 60%. Investors cheered the results, which seem to confirm that the five-year strategic plan the company announced last year is paying dividends.
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Why Harley-Davidson Stock Is Off to the Races Today