Saturday, October 16, 2021
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Hog wild for Harley-Davidson

🕐 1 min read

Harley-Davidson shares jumped to a six-month high after the iconic motorcycle builder reported better-than-expected third-quarter profit and said it’s on track to hit its full-year goals. The Milwaukee-based manufacturer made 70 cents a share in the quarter, eight cents less than a year earlier but above the 66 cents that Wall Street expected. International sales grew in the quarter, while U.S. sales continued to fall but at a slower rate, Harley said in a statement. The 116-year-old company has struggled to adapt to an aging customer base and its profit margin has suffered from the Trump administration’s tariffs on steel and aluminum. Before Tuesday’s news Harley shares had gained only 9% this year, compared to 20% for the S&P 500. They closed up 8% Tuesday at $40.04.

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