Shares of Harley-Davidson, Inc. (NYSE: HOG) rose sharply early Tuesday after the superbike maker reported third-quarter results that beat estimates.
Third-quarter profit came in at $120 million or $0.78 per share, compared to $87 million or $0.55 per share in the same period of last year. Analysts were looking for a smaller bottom-line number. Adjusted earnings advanced to $1.05 per share from $0.70 per share in the third quarter of 2019.
Meanwhile, total revenues dropped 8% annually to $1.17 billion in the third quarter but exceeded the consensus forecast.
The company’s stock grew by about 10% during Tuesday’s premarket trading, soon after the earnings announcement. It had closed the previous session lower.
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