Harley-Davidson Q3 Results Down, Meet View; Backs FY16 Outlook - Quick Facts

(RTTNews) - Harley-Davidson Inc. (HOG) reported Tuesday that its third-quarter net income declined to $114.07 million from last year's $140.35 million. Earnings per share decreased 7.2 percent to $0.64 from $0.69 last year.

On average, 18 analysts polled by Thomson Reuters expected earnings of $0.64 per share. Analysts' estimates typically exclude special items.

Consolidated revenue was $1.27 billion, compared to $1.32 billion in the third quarter of 2015. Motorcycles and related products revenue dropped to $1.09 billion from $1.14 billion last year. Analysts also expected revenues of $1.09 billion.

Harley-Davidson worldwide retail motorcycle sales were down 4.5 percent, primarily on weak U.S. industry trends. Harley-Davidson retail motorcycle sales in the U.S. were down 7.1 percent, with the overall U.S. industry also down for the same period.

Harley-Davidson's U.S. market share for the quarter was 52.3 percent in the 601cc-plus segment, essentially flat compared to 2015. Harley-Davidson international retail sales increased by 1.0 percent over the prior year quarter.

Looking ahead, for fiscal 2016, Harley-Davidson continues to expect to ship 264,000 to 269,000 motorcycles, which is approximately down 1 percent to up 1 percent from 2015. In the fourth quarter of 2016, the company expects to ship 44,200 to 49,200 motorcycles compared to 48,149 motorcycles shipped in the year-ago period.

The company continues to expect full-year 2016 operating margin of approximately 15 to 16 percent for the Motorcycles segment.