Harley-Davidson Earnings: Revenue Falls After Four Straight Quarters of Rising, Profit Dips

S&P 500 (NYSE:SPY) component Harley-Davidson Inc. (NYSE:HOG) reported its results for the third quarter. Harley-Davidson manufactures heavyweight motorcycles as well as motorcycle parts and accessories.

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Harley-Davidson Inc. Earnings Cheat Sheet

Results: Net income for Harley-Davidson Inc. fell to $134 million (59 cents per share) vs. $183.6 million (78 cents per share) a year earlier. This is a decline of 27% from the year-earlier quarter.

Revenue: Fell 11.4% to $1.09 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Harley-Davidson Inc. fell short of the mean analyst estimate of $1.05 per share. It fell short of the average revenue estimate of $1.22 billion.

Quoting Management: “The third quarter marked a pivotal milestone in Harley-Davidson’s transformation. With the launch of the ERP production system at York, a major piece of our restructuring work is behind us. We are now focused on optimizing the system and look forward to the start of seasonal surge production early next year,” said Keith Wandell, Chairman, President and Chief Executive Officer.

Key Stats:

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the second quarter, it topped the mark by 3 cents, and in the first quarter, it was ahead by 2 cents.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 85 cents per share to 61 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. Over the past three months, the average estimate for the fiscal year has climbed from $2.76 per to share to $2.80.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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