HOG - Why Harley-Davidson Stock Jumped This Week
Week to date, shares of Harley-Davidson (NYSE: HOG) were up 19.5% as of 11:36 a.m. ET on Friday. The gain follows better-than-expected third-quarter earnings on Wednesday, highlighted by solid growth in revenue.
Lower growth this year compared to 2021 has weighed on the stock lately, but that's not much to complain about. The iconic motorcycle brand has maintained steady revenue and profits in a challenging economic environment, which has pushed the stock up 14% year to date.
Harley is executing against its Hardwire strategy to build better motorcycles and expand its growth opportunities with new products. Core revenue increased by 24% year over year, with shipments up 19%. However, the acceleration in growth was mostly due to a recovery in production after a suspension in the second quarter.
For further details see:
Why Harley-Davidson Stock Jumped This Week