Stock Alert: Harley-Davidson Falls 9% As Q2 Results Miss Expectations

(RTTNews) - Shares of Harley-Davidson, Inc. (HOG) are losing more than 9 percent or $2.66 in Tuesday's morning trade at $26.62 after the motorcycle maker's second-quarter results missed analysts' expectations.

Tuesday, Harley-Davidson reported second-quarter net loss of $92.22 million or $0.60 per share, compared to net income of $195.63 million or $1.23 per share in the same period last year. Adjusted loss was $0.35 per share, while the average estimate of analysts polled by Thomson Reuters was for earnings of $0.03 per share.

Motorcycles and related products revenue fell to $669.27 million from $1.43 billion a year ago. The Street expected revenues of $808.46 million.

The company said it is not providing financial outlook for fiscal 2020 due to the uncertainty surrounding the impact of the COVID-19 pandemic.

Harley-Davidson has traded in a range of $14.31 to $40.89 in the past 52 weeks.