Categories AlphaGraphs, Consumer, Earnings
Harley-Davidson announces dismal Q4 with almost nil earnings
Cruise-bike maker Harley-Davidson (HOG) posted its fourth-quarter 2018 earnings before trading hours on Tuesday, Jan. 29. Shares quickly fell after the announcement after the company missed earnings estimates.
For the three-month period, worldwide total sales slipped 6.7% to 39,311 units pushing Motorcycles and Related Products Segment revenue 8.7% down to $955.6 million.
Net income fell to as low as $465,000 from $8.3 million a year ago. Diluted EPS slipped to $0.00 per share from $0.05 per share.
“During 2018 we met or exceeded all of the More Roads plan milestones we set out to achieve. In the U.S., we finished the year with 52,000 more Harley-Davidson riders than one year ago. The groundwork for an exciting future is being built in real time, and that’s clear for riders today and Harley-Davidson riders of tomorrow. We are igniting a cultural movement for motorcycling,” said CEO Matt Levatich.
LOOKING FORWARD
For fiscal 2019, Harley-Davidson looks to ship about 217,000 to 222,000 motorcycles. In the first quarter itself, the company aims to ship about 53,000-58,000 motorcycles.
Read the earnings conference transcript here.
Motorcycles segment operating margin, as a percent of revenue, is expected to be 8-9% for the year.
Financial Services segment operating income is expected to fall, however, in the year in which HOG expects an effective tax rate of approximately 24-25%. Capital expenditures are estimated at $225-245 million.
Get access to timely and accurate verbatim transcripts that are published within hours of the event
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company