Harley-Davidson Misses Q2 Street Estimates Hit By Unplanned Production Suspension
Portfolio Pulse from Lekha Gupta
Harley-Davidson Inc (NYSE:HOG) reported a 4% Y/Y decline in Q2 FY23 HDMC sales to $1.20 billion, missing the consensus of $1.29 billion. The decline was due to an unplanned production suspension. The company's EPS of $1.22 also missed the consensus of $1.25. However, HOG's shares are trading higher by 5.15% at $39.61. The company revised its FY23 HDMC revenue growth outlook to flat to 3% from 4% - 7%.
July 27, 2023 | 2:32 pm
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Harley-Davidson's Q2 FY23 sales and EPS missed estimates due to an unplanned production suspension, but shares are trading higher. The company also revised its FY23 revenue growth outlook downwards.
Despite missing Q2 FY23 sales and EPS estimates due to an unplanned production suspension, Harley-Davidson's shares are trading higher. This could be due to the company's strong cash position and the CEO's optimistic comments. However, the company revised its FY23 revenue growth outlook downwards, which could potentially impact future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100