ADVERTISEMENT

Harley-Davidson beats on earnings and shares are rising in pre-market trading (HOG)

The iconic American motorcycle maker made $1.03 per share on a non-adjusted basis, surpassing analysts' expectations of $1.01.

  • The motorcycle maker still saw deep declines in US sales.
ADVERTISEMENT

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.

ADVERTISEMENT

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.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

10 African countries with the lowest life expectancy according to the World Bank

10 African countries with the lowest life expectancy according to the World Bank

Kenyan women are more obese than their men - here’s why

Kenyan women are more obese than their men - here’s why

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

Wall decor tips: Transforming your space with style and creativity

Wall decor tips: Transforming your space with style and creativity

ADVERTISEMENT