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Harley-Davidson earnings beat expectations

Harley Motorcycles A Target Of EU Retaliatory Tariffs
Posted at 11:23 AM, Oct 22, 2019
and last updated 2019-10-22 12:23:21-04

MILWAUKEE (AP) — Harley-Davidson Inc. (HOG) on Tuesday reported third-quarter net income of $86.6 million.

The Milwaukee-based company said it had profit of 55 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The motorcycle maker posted revenue of $1.27 billion in the period. Its adjusted revenue was $1.07 billion, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.04 billion.

Harley-Davidson shares have risen almost 9% since the beginning of the year, while the Standard & Poor's 500 index has increased 20%. The stock has dropped slightly more than 6% in the last 12 months.