The motorcycle manufacturer Harley-Davidson (NYSE: HOG) reported its first-quarter financail results on Monday, April 19th - one day earlier than scheduled. The company reported better-than-expected Q1 earnings and raised full-year guidance for both revenue and profit margins.
Earnings per share: $1.68 vs. $0.88 expected
Revenue: $1.42 billion vs. $1.26 billion expected
“I am very pleased with the pace of recovery that we have seen across our business, as demonstrated by the strong financial results this quarter," said CEO Jochen Zeitz. “The actions we have taken to reshape the business are having a positive impact on our results, especially for our most important North American region” he added.
Harley increased its expected growth in motorcycle revenue this year to 30-35%, compared with a 20% to 25% increase estimated in February. During the first quarter, the company saw a 30% increase in its sales in the United States and worldwide, the sales rose 9% in Q1.
The stock bounced more than 10% on Monday and break above the previous 52-week high of $43.47 following the stronger-than-expected first-quarter earnings.
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