Harley-Davidson Shares Dip After Company Reports Q4 Earnings Below Expectations

Harley-Davidson Inc. shares fell nearly 2% in premarket trade on Tuesday after the motorcycle manufacturer reported fourth-quarter earnings that fell short of Wall Street expectations. Net income for the quarter came in at $47.2 million, or 27 cents per share, compared with $42.2 million, or 22 cents during the same quarter a year ago. FactSet's per-share earnings consensus was for 31 cents. Sales hit $933.0 million during the quarter, down from $1.0 billion in the year-earlier period. Consolidated revenue was $1.1 billion for the quarter. FactSet had forecast sales to hit $977.0 million. Harley-Davidson said it expects full-year 2017 margins to be in line with 2016 and shipments of motorcycles to be flat to down compared with 2016. Shares of Harley-Davidson are up 45% in the trailing 12-month period, while the S&P 500 Index are up more than 17%.