Harley-Davidson (HOG) Tops Q1 EPS by 80c, Offers Outlook

Harley-Davidson (NYSE: HOG) reported Q1 EPS of $1.68, $0.80 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.42 million versus the consensus estimate of $1.25 million.

• 2021 Outlook:

As a result of its Q1 performance, for the full-year 2021, the company now expects:

•Motorcycles segment revenue growth to be 30 to 35 percent, an increase from the previously communicated growth range of 20 to 25 percent.
•Motorcycles segment operating income margin of 7 to 9 percent, which is 200 basis points better than previous guidance. Assuming the company is not able to mitigate the additional EU tariffs to any extent in 2021, the company expects the operating income margin would be 5 to 7 percent, in line with original guidance.
•Financial Services segment operating income growth of 50 to 60 percent, an increase from the previously communicated range of 10 to 15 percent.

Additionally, for the full-year 2021, the company continues to expect:
•Capital expenditures of $190 million to $220 million.

Cash allocation priorities remain to first fund growth through The Hardwire initiatives, then to pay dividends and, given the company’s continued strong cash position, the company will be evaluating share repurchases and may choose to repurchase shares.

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

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