Harley-Davidson Inc. Earnings Cheat Sheet: Increase in Profit Year Over Year

S&P 500 (NYSE:SPY) component Harley-Davidson Inc. (NYSE:HOG) reported net income above Wall Street’s expectations for the third quarter. Harley-Davidson manufactures heavyweight motorcycles as well as motorcycle parts and accessories. .

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Harley-Davidson Earnings Cheat Sheet for the Third Quarter

Results: Net income for the recreational vehicles company rose to $183.6 million (78 cents per share) vs. $88.8 million (38 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Revenue: Rose 10.9% to $1.4 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HOG beat the mean analyst estimate of 74 cents per share. It beat the average revenue estimate of $1.29 billion.

Quoting Management: “We are pleased with our sustained progress and we continue to realize strong momentum in the transformation our business,” said Keith Wandell, President and Chief Executive Officer of Harley-Davidson. “Two years ago we embarked on our strategy to focus solely on the Harley-Davidson brand, provide the flexibility required in today’s market and make Harley-Davidson lean, agile and more effective than ever at delivering remarkable products and extraordinary customer experiences. Today, we continue to see the positive results of the course we have charted.”

Key Stats:

Revenue has now gone up for three straight quarters. In the second quarter, revenue rose 15% to $1.51 billion while the figure rose 1.5% in the first quarter from the year earlier.

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 81 cents versus a mean estimate of net income of 70 cents per share.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 26 cents a share to 28 cents over the last ninety days. For the fiscal year, the average estimate has moved up from $2.11 a share to $2.38 over the last ninety days.

Competitors to Watch: 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).

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(Source: Xignite Financials)