Harley-Davidson Beats On Earnings, Revenue; Lowers 2016 Motorcycle Shipment Guidance

Harley-Davidson Inc. beat on second-quarter earnings and revenue Tuesday but lowered its 2016 motorcycle shipment guidance in a "precautionary step," given lower U.S. sales this quarter. Earnings came to $280.4 million, or $1.55 per share, compared with $299.8 million, or $1.44 per share, in the same period a year ago. The FactSet consensus was $1.53. Revenue rose to $1.86 billion from $1.82 billion, above the FactSet consensus of $1.66 billion. The company said total motorcycle sales worldwide decreased 1.9%, which included a 5.2% drop in U.S. motorcycle sales. For 2016, the company lowered its full-year motorcycle shipment guidance from 269,000-274,000 to 264,000 to 269,000, citing "market softness in the U.S., the continued competitive environment and global economic uncertainty." Harley-Davidson shares rose 5.4% over the last three months, compared with a 4.37% rise in the S&P 500 .