- REUTERS/Paul Hackett
- Harley-Davidson beat estimates for Q1 earnings.
- The motorcycle maker still saw deep declines in US sales.
Harley-Davidson posted a beat for first-quarter earnings on Tuesday. The iconic American motorcycle maker made $1.03 per share on a non-adjusted basis, surpassing analysts’ expectations of $1.01.
Total revenue for the quarter was $1.36 billion.
Harley saw a 12% decline in US sales for the quarter, a sign that the structural weakness in the company’s home market is continuing.
The motorcycle maker, based in Milwaukee, sells its bikes for a lot of money on average, but ridership has been on the decline for years. Recently, Harley announced that it would unveil an all-electric hog by 2019, and it logged an investment in electric dirt-bike manufacturer Alta Motors in March.
Harley shares had dipped over 16% year-to-date, but in pre-market action on Tuesday, they were trending sharply higher, up nearly 6% to $43.
- Markets Insider