LONDON, UK / ACCESSWIRE / October 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Harley-Davidson, Inc. (NYSE: HOG), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=HOG, following the Company's posting of its third quarter fiscal 2017 operating results on October 17, 2017. The US motorcycle maker reported a y-o-y decline in sales and earnings, while it re-affirmed its motorcycle shipment and operating margin guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For the period ended September 24, 2017, Harley-Davidson recorded revenue of $1.15 billion compared to consolidated revenue of $1.27 billion in Q3 2016. The Company's revenue topped analysts' estimates of $952.0 million.

For Q3 2017, Harley-Davidson reported gross profit of $276.98 million compared to gross profit of $258.09 million for Q3 2016. The Company posted operating income of $96.71 for the reported quarter versus $178.38 million for the year-ago same period.

Harley-Davidson's net income was $68.21 million for Q3 2017 versus net income of $114.07 million for Q3 2016. The Company's diluted EPS decreased to $0.40 in the reported quarter from $0.64 in the year-ago comparable period. Harley-Davidson's earnings beat Wall Street's expectations of $0.439 per share.

Motorcycle Sales

During Q3 2017, Harley-Davidson's worldwide retail motorcycle sales were down 6.9% to 64,209 units on a y-o-y basis versus 68,955 units in Q3 2016. The Company's US retail motorcycle sales were down 8.1% to 41,793 units on a y-o-y basis, primarily attributed to weak industry conditions including the impacts of hurricanes in the southeast and Texas. Harley-Davidson's US market share for the reported quarter was 53.1% in the 601cc-plus segment, higher compared to the year-ago corresponding period. Harley-Davidson's international retail motorcycle sales totaled 22,416 units, down 4.6% on a y-o-y basis, driven by weak performance in Japan, Australia, and Mexico.

Cash Matters

Harley-Davidson's cash and marketable securities totaled $683.1 million at the end of Q3 2017 compared to $795.3 million at the end of Q3 2016. During the first nine months of 2017, the Company generated $949.1 million of cash from operating activities compared to $927.8 million for the first nine months of 2016.

Harley-Davidson paid a cash dividend of $0.365 per share for Q3 2017, and a cumulative total of $1.095 per share for the first nine months of 2017. On a discretionary basis, the Company repurchased 4.5 million shares of its common stock during the reported quarter for $222 million. In Q3 2017, there were 170.7 million weighted-average diluted common shares outstanding compared to 179.3 million shares in the same period a year ago. At the end of the reported period, Harley-Davidson had 10.6 million shares remaining on a board-approved share repurchase program.

Guidance

Harley-Davidson reiterated its forecast to ship 241,000 to 246,000 motorcycles to dealers worldwide in 2017, down approximately 6% to 8% from 2016. In Q4 2017, the Company expects to ship 46,700 to 51,700 motorcycles compared to 42,414 motorcycles shipped in the year-ago same period. Harley-Davidson re-affirmed its full-year 2017 operating margin forecast to be down approximately 1% compared to 2016. The Company continues to expect 2017 capital expenditures to be $200 million to $220 million. Harley-Davidson now expects its FY17 effective tax rate to be approximately 33.4%.

Stock Performance

At the close of trading session on Wednesday, October 18, 2017, Harley-Davidson's stock price rose 1.05% to end the day at $48.02. A total volume of 3.86 million shares were exchanged during the session, which was above the 3-month average volume of 2.51 million shares. The Company's shares are trading at a PE ratio of 14.00 and have a dividend yield of 3.04%. At Wednesday's closing price, the stock's net capitalization stands at $8.16 billion.

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SOURCE: Pro-Trader Daily