Harley-Davidson meets 3Q profit forecasts

Harley-Davidson meets 3Q profit forecasts
Posted at 6:43 AM, Oct 17, 2017
and last updated 2017-10-17 07:44:26-04

MILWAUKEE (AP) -- Harley-Davidson Inc. (HOG) on Tuesday reported third-quarter profit of $68.2 million.

On a per-share basis, the Milwaukee-based company said it had profit of 40 cents.

The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 40 cents per share.

The motorcycle maker posted revenue of $962.1 million in the period, surpassing Street forecasts. Nine analysts surveyed by Zacks expected $960.8 million.

Harley-Davidson shares have decreased 20 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 14 percent. The stock has decreased 6.5 percent in the last 12 months.