Harley-Davidson Q3 Earnings: Sales Drop 26%, High Interest Rates Hit Motorcycle Demand And Margins, Lowers 2024 Outlook
Portfolio Pulse from Anusuya Lahiri
Harley-Davidson reported a 26% drop in Q3 2024 sales, with high interest rates impacting motorcycle demand and margins. The company lowered its 2024 revenue and operating income margin outlooks. Despite beating EPS estimates, HOG stock fell 2.58% premarket.
October 24, 2024 | 1:22 pm
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Harley-Davidson's Q3 2024 earnings report revealed a 26% drop in sales, primarily due to high interest rates affecting motorcycle demand. The company lowered its 2024 revenue and operating income margin outlooks, leading to a 2.58% premarket stock decline.
The significant drop in sales and the lowered outlook for 2024 are likely to negatively impact investor sentiment, causing a short-term decline in HOG's stock price. The premarket decline of 2.58% reflects this sentiment.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100