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Harley-Davidson, Inc. (HOG) Tops Q2 EPS by 16c; Revises FY14 Outlook

July 22, 2014 7:05 AM

Harley-Davidson, Inc. (NYSE: HOG) reported Q2 EPS of $1.62, $0.16 better than the analyst estimate of $1.46. Revenue for the quarter came in at $1.83 billion versus the consensus estimate of $1.84 billion.

Dealers worldwide sold 90,218 new Harley-Davidson® motorcycles in the second quarter of 2014 compared to 90,193 motorcycles in the year-ago quarter. In the U.S., dealers sold 58,225 new Harley-Davidson motorcycles in the quarter, compared to sales of 58,241 motorcycles in the year-ago period. The Company believes second-quarter U.S. retail sales were adversely affected by prolonged poor weather across parts of the U.S. and soft Sportster® motorcycle sales ahead of the highly anticipated arrival of Street motorcycles in dealer showrooms.

In international markets, dealers sold 31,993 new Harley-Davidson motorcycles during the second quarter, compared to 31,952 motorcycles in the year-ago period, with sales up 7.0 percent in the EMEA Region and 1.5 percent in the Asia Pacific Region, and down 10.4 percent in the Latin America Region and 18.0 percent in Canada.

Harley-Davidson is revising its full-year guidance for new motorcycle shipments, reflecting its commitment to manage supply in line with demand, and now expects to ship 270,000 to 275,000 motorcycles to dealers and distributors worldwide in 2014, an approximate 3-1/2 percent to 5-1/2 percent increase from 2013. The Company previously had provided full-year shipment guidance of 279,000 to 284,000 motorcycles. In the third quarter of 2014, the Company expects to ship 49,000 to 54,000 motorcycles, compared to shipments of 54,025 motorcycles in the year-ago period. The Company continues to expect full-year 2014 operating margin of 17.5 percent to 18.5 percent in the Motorcycles segment. The Company also continues to expect capital expenditures of $215 million to $235 million in 2014.

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

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