Harley-Davidson (HOG) Tops Q2 EPS by 9c, Cuts Shipment Guidance

Harley-Davidson (NYSE: HOG) reported Q2 EPS of $1.48, $0.09 better than the analyst estimate of $1.39. Revenue for the quarter came in at $1.58 billion versus the consensus estimate of $1.6 billion.

Guidance

Harley-Davidson is revising its full-year guidance for motorcycle shipments and now expects to ship 241,000 to 246,000 motorcycles to dealers worldwide in 2017, which is down approximately 6 percent to 8 percent from 2016. The company had previously provided full-year shipment guidance of flat to down modestly in comparison to 2016. In the third quarter, the company expects to ship 39,000 to 44,000 motorcycles, which is down approximately 10 percent to 20 percent from 2016. The company now expects full-year 2017 operating margin to be down approximately 1 percentage point compared to 2016. The company continues to expect 2017 capital expenditures to be $200 million to $220 millio

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