Harley-Davidson down post Q2 results
Seeking Alpha
Published Jul 18, 2017 07:12AM ET
Harley-Davidson down post Q2 results
- Harley-Davidson (NYSE:HOG) reports motorcycle revenue decreased 4.5% to $1.27B in Q2.
- Parts & accessories revenue slipped 8% to $237.5M.
- Motorcycle shipments fell 7.2% to 81,807 units.
- Gross margin rate +10 bps to 36.5%.
- Operating margin increased 100 bps to 20.3% as a result of mix favorability driven by demand for the Milwaukee-Eight powered touring motorcycles and lower SG&A spending.Financial services revenue declined 1.5% to $188.03M.
- FY2017 Guidance: Motorcycle shipments: 241K to 246K (-6% to -8% Y/Y); Operating margin rate: ~-1%; Tax rate: ~34.5%; Capex: $200M to $220M.
- HOG -8.08% premarket.
- Now read: Harley-Davidson: You Must Like Pain
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