Harley-Davidson Earnings: Double-Digit Revenue Growth Powers Past Estimate

Harley-Davidson, Inc. (NYSE:HOG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are flat.

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Harley-Davidson, Inc. Earnings Cheat Sheet

Results: Net income decreased -33.19% to $70.6 million (31 cents per diluted share) in the quarter versus a net gain of $105.68 million in the year-earlier quarter.

Revenue: Rose 43.59% to $1.7 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Harley-Davidson, Inc. reported adjusted net income of 31 cents per share. By that measure, the company missed the mean analyst estimate of $0.32. It beat the average revenue estimate of $976.71 million.

Quoting Management: Keith Wandell, Chairman, President and CEO, stated, “The ambitious restructuring of our manufacturing operations, aimed at delivering better responsiveness for customers and greater operating efficiency, is now largely behind us,” Wandell said. “Motorcycle sales grew in 2012, fueled by exceptional products and retail experiences. Together with our dealers, we grew sales to U.S. outreach customers faster than to core customers, grew U.S. market share and continued to expand internationally…

…Harley-Davidson’s purpose is to fulfill the dreams of personal freedom for people around the world. Through our strategy, we believe the company is poised to deliver on that purpose like never before,” Wandell said.

Key Stats:

Revenue increased 35.97% from $1.25 billion in the previous quarter. Net income decreased 47.31% from $134 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.89 to a profit $0.88. For the current year, the average estimate is a profit of $2.73, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials.)