Harley-Davidson (HOG) reported earnings on Tue 18 July 17 (b/o)

** charts before earnings **

 

** charts after earnings **

Harley-Davidson beats by $0.10, misses on revs; lowers FY17 guidance:

• Reports Q2 (Jun) earnings of $1.48 per share, $0.10 better than the Capital IQ Consensus of $1.38; revenues fell 5.6% year/year to $1.58 bln vs the $1.6 bln Capital IQ Consensus. Shipments -6.7% to 81.4K vs. 80-85K guidance. Harley-Davidson retail motorcycle sales in the U.S. were down 9.3 percent compared to the year-ago quarter, with the overall U.S. industry down for the same period.
• Harley-Davidson is revising its full-year guidance for motorcycle shipments and now expects to ship 241,000 to 246,000 motorcycles to dealers worldwide in 2017, which is down ~6 percent to 8 percent from 2016. The company had previously provided full-year shipment guidance of flat to down modestly in comparison to 2016.
• In the third quarter, the company expects to ship 39,000 to 44,000 motorcycles, which is down ~10 percent to 20 percent from 2016.
• The company now expects full-year 2017 operating margin to be down ~1 percentage point compared to 2016. The company continues to expect 2017 capital expenditures to be $200 million to $220 million.