sales

Harley Soars as Sales Overcome Supply Hurdles to Beat Estimates By Investing.com


© Reuters.

By Dhirendra Tripathi

Investing.com – Harley-Davidson stock (NYSE:) surged 7% Wednesday as sales of its iconic motorcycles left supply chain challenges behind to go past estimates in the third quarter.

Adjusted profit per share of $1.18 was well ahead of Wall Street analysts’ estimate of 78 cents as the company shipped 12% more motorcycles and sold more of the higher-margin models.

Operating margin expanded by 360 basis points to 8.4% year as the company’s comparison period included heavier Rewire restructuring charges. One basis point is one hundredth of a percent.

‘Rewire’ is the name the company gave to the exercise it undertook to overhaul its business. It was complete in January, and the company says it laid the foundation for The Hardwire, the company’s 5-year strategic plan to deliver profitable and long-term growth.

Third-quarter revenue from motorcycles and related products rose 20%, to $1.16 billion. Total revenue rose

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Dirt bikes: Off-road motorcycle sales way up as people seek outdoor recreation

As people get away this summer with restrictions lifted, a lot of them are taking to off-road motorcycles — to the point that dirt bikes are cleaning up on the sales charts!

“It’s like a tsunami. It hit us, and has yet to crash,” said Kevin Wray, general manager of Bert’s Mega Mall in Covina

It’s hard to find a larger retailer of motorcycles than Bert’s. They carry every popular brand. Yet their sales floor for off-road motorcycles is somewhat bare these days.

“Bert’s Mega Mall has been around for 60 years. And in those 60 years we’ve never sold out of inventory, and we’re currently going through that process,” noted Wray.

While they recently had a small number of motorcycles on display in their off-highway area, they’re waiting for more bikes to come in. Those will then help fill up empty floor space, which used to be handlebar-to-handlebar, many

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Harley-Davidson Has 22% Upside as Sales Start to Heat Up, Says Analyst

Sales of Harley-Davidson (NYSE:HOG) motorcycles are roaring back to life, according to one Wall Street analyst who believes that’s worth lifting his price target on the stock from $55 per share to $60, or 20% above where the bike maker’s stock closed on Thursday.

Wedbush analyst James Hardiman tells investors in a research note that his channel checks show Harley-Davidson is gaining traction among motorcycle buyers again. April sales were running 5% to 7% above the levels they hit in 2019 while May sales were sprinting higher by low double-digit rates.

If those figures pan out, it could mean the motorcycle manufacturer truly has found the bottom of its yearslong sales slide.

Harley-Davidson Pan America 1250 motorcycle being ridden in the desert

A Harley-Davidson Pan America 1250. Image source: Harley-Davidson.

Investors have been burned before by overly optimistic assessments of Harley-Davidson’s ability to pull out of its sales decline, but there could be something this time to Hardiman’s

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