Harley-Davidson’s Shares (NYSE: HOG) rose sharply early Thursday after the superbike maker reported better-than-expected second-quarter results.
Second-quarter profit came in at $216 million or $1.46 per share, compared to $206.3 million or $1.33 per share last year. Analysts were looking for a year-over-year decline. The management reaffirmed its full-year 2022 guidance.
Meanwhile, consolidated revenue declined 4% to $1.47 billion during the three-month period, hurt by lower HDMC revenues and production suspension in the second half of May. However, the topline beat the consensus estimates.
Check this space to read management/analysts’ comments on Harley-Davidson’s Q3 results
Harley Davidson’s stock traded up 6% on Thursday afternoon. In the past twelve months, the stock lost about 8%.