Harley-Davidson Q1 Profit Increases - Quick Facts

(RTTNews) - Motorcycle manufacturer Harley-Davidson, Inc. (HOG) said that its first-quarter net income rose to $265.9 million from $224.1 million in the year-ago quarter. Quarterly earnings per share grew to $1.21 from last year's $0.99 on higher motorcycle shipments and continued improvement in operating efficiencies. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.08 per share for the quarter. Analysts' estimates typically exclude special items.

Motorcycles and related products revenue increased to $1.57 billion from $1.41 billion last year. Wall Street expected revenues of $1.53 billion for the quarter.

Dealers worldwide sold 57,415 new Harley-Davidson motorcycles in the first quarter of 2014 compared to 54,254 motorcycles in the year-ago quarter.

In the second quarter of 2014, the company expects to ship 92,000 to 97,000 motorcycles, up from shipments of 84,606 motorcycles in the year-ago period.

Harley-Davidson continues to expect to ship 279,000 to 284,000 motorcycles to dealers and distributors worldwide in 2014, an approximate 7% to 9% increase from 2013.

The company continues to expect full-year 2014 operating margin of 17.5% to 18.5% in the Motorcycles segment. The company also continues to expect capital expenditures of $215 million to $235 million in 2014.