Harley-Davidson (HOG) Misses Q2 EPS by 38c, Revenue Beats

Harley-Davidson (NYSE: HOG) reported Q2 EPS of ($0.35), $0.38 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $865 million versus the consensus estimate of $808.46 million.

The company plans to rewire its product offering to more precisely match customer desires and to strengthen the value of its products. The company will also improve product timing and go-to-market plans to achieve the greatest market impact.

Highlights of the new approach include:

• Streamlining planned motorcycle models by approximately 30 percent; balancing investments between current stronghold categories and new, high-potential segments
• Expanding product offerings of its best-selling, iconic motorcycles
• Delivering its first Adventure Touring motorcycle - Pan America 1250 - in 2021
• Shifting annual product launch timing from August to early in the first quarter
• Reinvigorating launch efforts including collaborations with key influencers to bring the brand and new products to life drive brand desirability

Among other plans, the company is set to launch a new marketing campaign including a collaboration with Jason Momoa to celebrate the shared journey and unrelenting spirit of Harley-Davidson.

For earnings history and earnings-related data on Harley-Davidson (HOG) click here.

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