Harley-Davidson Q4 Profit Rises, Matches View - Quick Facts

(RTTNews) - Motorcycle manufacturer Harley-Davidson, Inc. (HOG) reported Thursday a higher profit in its fourth quarter with increased revenues. Earnings per share matched analysts' estimates.

Fourth-quarter net income was $75.41 million, higher than last year's $70.6 million. Earnings per share increased 9.7 percent to $0.34 from last year's $0.31, primarily on strong operating results in the Motorcycles segment, including higher revenue and lower operating expense.

On average, 16 analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue was $1.19 billion for the quarter, higher than prior year's $1.17 billion. Motorcycles and related products revenue was $1.03 billion, compared to last year's $1.01 billion. Analysts expected revenues of $1.04 billion for the quarter. Revenue from sales of motorcycles to dealers and distributors grew 1.4 percent. The company shipped 46,618 motorcycles worldwide, compared to shipments of 47,067 motorcycles in the year-ago period. Revenue from motorcycle parts and accessories went up 4.8 percent.

New Harley-Davidson motorcycle retail sales grew 5.7 percent worldwide in fourth quarter.

Dealers worldwide sold 45,875 new Harley-Davidson motorcycles. In the U.S., dealers sold 6.3 percent more vehicles, and in international markets, dealers sold 4.7 percent more vehicles.

Looking ahead for the first quarter, the company expects to ship 76,500 to 81,500 motorcycles, compared to 75,222 motorcycles shipped in the year-ago period.

Harley-Davidson expects to ship 279,000 to 284,000 motorcycles in 2014, an approximate 7 percent to 9 percent increase from 2013 shipments.

The company expects full-year 2014 operating margin of 17.5 percent to 18.5 percent for the Motorcycles segment.