Harley-Davidson’s stock on track for highest close in almost two years after earnings crush estimates

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Iconic motorcycle maker's stock is up 9% and headed toward its best close since May 17, 2021.

Harley-Davidson Inc.’s stock soared 9% Thursday, putting it on track for its highest close in almost two years, after the motorcycle company crushed earnings estimates for the fourth quarter.The Milwaukee, Wisconsin-based company managed to... Harley-Davidson Inc.’s stock soared 9% Thursday, putting it on track for its highest close in almost two years, after the motorcycle company crushed earnings estimates for the fourth quarter.

The report was the first under the company’s new three-segment structure: Harley-Davidson Motor Company, or HDMC, which comprises design, manufacturing, marketing and sales of the company’s motorcycles and related products; Harley-Davidson Financial Services, or HDFS, which provides financing and insurance products and services to its dealers and retail customers; and LiveWire, the group that oversees design, marketing and sales of LiveWire electric motorcycles and related products.

“We have changed our overall approach and focus as a business from prioritizing unit growth at all costs to a more holistic view on profitable growth of motorcycles, parts and accessories, apparel and licensing and Harley-Davidson financial services,” said Zeitz, according to a FactSet transcript. The company is expecting supply-chain inflation to ease in 2023 as logistics costs continue to stabilize, according to its chief financial officer, Gina Goetter.It expects HDMC operating-income margins of 14.1% to 14.6% and HFS operating income to fall by 20% to 25%. That’s due to higher interest rates pushing borrowing costs higher.

 

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