Harley-Davidson Shares Slide After Revenue Miss, Weak Outlook

By Caitlin Huston Markets MarketWatch Pulse

Shares of Harley-Davidson fell 6% in premarket trade Tuesday after the company missed revenue expectations and issued a weaker-than-expected outlook. Harley-Davidson reported net income of $186.4 million, or $1.05 per share, up from $250.5 million, or $1.36 per share, in the year-earlier period. The FactSet consensus was for earnings of $1.02. It reported revenue of $1.33 billion, down from $1.58 billion in the year-earlier period and below the FactSet consensus of $1.37 billion. For the second quarter, Harley-Davidson sees motorcycle shipments of 80,000 to 85,000, below the FactSet consensus of 91,025. Shares of Harley-Davidson have fallen 4.6% in the past month, compared to the S&P 500's loss of 1.2%.

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