Biker boom: Harley-Davidson riding high on the HOG, bikers have money to burn
According to a recent report by Reuters, Harley-Davidson, the iconic American motorcycle manufacturer, recently reported its fourth-quarter financial results, revealing a rise in both revenue and profit. The company attributed the strong performance to robust demand for its motorcycles, both in the domestic and international markets.
According to the report, Harley-Davidson’s revenue for the quarter ended December 31st, 2022, was $1.16 billion, up from $1.15 billion in the same period the previous year. The company’s net income was $71.7 million, or 39 cents per share, compared to $67.7 million, or 37 cents per share, in the same quarter of 2021. These results were revealed in a Reuters article titled “Harley-Davidson profit rises on robust demand” dated 02-02-2023.
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The results exceeded analysts’ expectations, who had predicted revenue of $1.15 billion and earnings of 36 cents per share. Harley-Davidson’s stock price rose following the release of the results, reflecting investor confidence in the company’s future prospects.
“We delivered strong fourth quarter results, with improved profitability and strong cash generation, and we continue to make progress on our strategic priorities,” said Jochen Zeitz, Harley-Davidson’s President and CEO. “We are well positioned to capitalize on the growth opportunities ahead and to build on our momentum in the coming year.”
Harley-Davidson’s strong results come as the company continues to focus on its strategy of expanding into new markets and reaching new customers. The company has launched a range of new electric motorcycles, which have been well received by customers and are expected to drive growth in the coming years.
In conclusion, Harley-Davidson’s fourth-quarter results are a positive sign for the company and its shareholders. With a strong focus on growth and a commitment to innovation, Harley-Davidson is well positioned to continue delivering strong results in the future.
- “Harley-Davidson profit rises on robust demand”, Reuters, 02-02-2023, https://www.reuters.com/business/autos-transportation/harley-profit-rises-robust-demand-2023-02-02/