Falling revenue did not prevent S&P 500 (NYSE:SPY) component Harley-Davidson, Inc. (NYSE:HOG) from reporting a profit boost in the first quarter. Harley-Davidson, Inc. manufactures heavyweight motorcycles as well as motorcycle parts and accessories. .
Harley-Davidson Earnings Cheat Sheet for the First Quarter
Results: Net income for Harley-Davidson, Inc. rose to $119.3 million (51 cents/share) vs. $33.3 million 14 cents/share) YoY. A more than threefold rise from the year earlier quarter.
Revenue: Fell 11.9% to $1.06 billion YoY.
Actual vs. Wall St. Expectations: HOG (NYSE:HOG) fell short of the mean analyst estimate of 53 cents/share. Estimates ranged from 46 cents per share to 57 cents per share.
Quoting Management: “We are pleased by the growth of our dealers’ new motorcycle sales on a worldwide basis, led by strength in Europe, even as we continue to encounter some headwinds in the U.S. related to the challenging macro-economic conditions,” said Harley-Davidson, Inc. President and CEO Keith Wandell.
Competitors and companies in their category include Polaris Industries (NYSE:PII), Brunswick (NYSE:BC), Home Depot (NYSE:HD), Caterpillar (NYSE:CAT), General Motors (NYSE:GM), Ford (NYSE:F), Toyota (NYSE:TM) and Honda (NYSE:HMC).
Today’s Performance: Shares of HOG (NYSE:HOG) closed at $39.71 yesterday. The stock is trading down this morning.