Harley-Davidson shares rev up in New York on third-quarter profit and revenue beat

Harley-Davidson Inc (NYSE:HOG), the iconic motorbike maker, saw shares rev up in New York Tuesday as the group sped past profit and revenue estimates in its third quarter. 

Notably, the company’s international sales also rose 2.7% to 23,619 motorcycles in the three months, the first rise in a year, while sales in the US did not fall as much as some had feared.

Net income beats Wall Street’s expectations

The more-than-a-century-old firm has been dogged by the effects of ongoing tariffs and trade wars, while sales at home have declined as its core customer group ages.

Sales of its machines in the USA fell 3.6%, which was still the smallest quarterly decline in nearly three years, the Milwaukee-based group said.

Net income for the three months to end September was US$0.55 a share, which was better than Wall Street’s expectations of US$0.51 per share. Meanwhile, adjusted revenue came in at US$$1.07 billion, beating estimates of US$1.04 billion.

HOG shares gained 6.26% in New York to stand at US$39.35 each.

Story by ProactiveInvestors