Key points:
- Harley-Davidson reports fourth quarter earnings
- Earnings and revenue beat analyst expectations
- HOG shares rise over 7% in reaction to the results
- Harley Davidson Stock Rallies 13% on New Electric-Motorcycle Division
Harley-Davidson (NYSE: HOG) announced earnings per share of $0.15 before the bell on Tuesday, with revenue coming in at $816.02 million.
The numbers reported were against an anticipated EPS of -$0.37 and revenue of $668 million.
The company’s total revenue grew 40%, driven by higher units, profitable unit mix, and pricing.
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In reaction to the report, Harley-Davidson’s share price has moved 7.2% to $38.72.
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“Harley-Davidson delivered a strong finish to the year, in which we have seen proof points on all elements of our Hardwire Strategy,” said Jochen Zeitz, Chairman, President and CEO, Harley-Davidson. “Looking ahead, we are fully committed to achieving our long-term Hardwire Strategy, as the most desirable motorcycle brand and company in the world.”
For the full year 2022, the company expects its Motorcycles and Related Products segment (HDMC) revenue to grow by 5 to 10%. In addition, they also expect capital investments of $190 million to $220 million. However, the company warned that the outlook assumes that supply chain challenges improve in the second half of the year.