American motorcycle manufacturing company Harley-Davidson (NYSE: HOG) will be reporting results this Thursday before market open. Here’s what to look for.
Harley-Davidson beat analysts’ revenue expectations last quarter, reporting revenues of $1.17 billion, down 11.8% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates. It reported 37,300 motorcycles sold, down 3.4% year on year.
Is Harley-Davidson a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Harley-Davidson’s revenue to decline 10.7% year on year, improving from the 19.3% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Harley-Davidson has a history of exceeding Wall Street’s expectations.
Looking at Harley-Davidson’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. AMC Entertainment delivered year-on-year revenue growth of 14.2%, beating analysts’ expectations by 8.7%, and Delta reported revenues up 18.7%, topping estimates by 3.9%. AMC Entertainment traded up 14.6% following the results while Delta was down 3.2%.
Read our full analysis of AMC Entertainment’s results here and Delta’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Harley-Davidson is up 14.9% during the same time and is heading into earnings with an average analyst price target of $26.91 (compared to the current share price of $28.38).
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