Harley Davidson Profit Lower But Positive Rider and Sales Forecasts

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  • #21332
    ThePitBoss
    Participant

    Motorcycle icon Harley Davidson reported better than expected…

    [article]1623[/article]

    #21980
    Super Harley
    Participant

    Harley-Davidson Accelerated Sales Strategy to require ‘significant investment’ Sends Stock Lower

    Harley-Davidson Inc. HOG unveiled Tuesday its plan to accelerate its strategy to increase motorcycle ridership, but said the strategy will require “significant investment” which it expects to fund entirely through cost cuts and the reallocation of investment and resources.

    Harley said it expects operating investment of $450 million to $550 million through 2022 and capital investment of $225 million to $275 million. The company said it will launch multiple middleweight motorcycle Adventure Touring, Streetfighter and High-Performance Custom models through 2022 and expects to launch fully-electric “LiveWire models this year. The stock has tumbled 37% year to date, while the S&P 500 SPX, +0.49% has gained 19.9%.

    The stock dropped 2% in morning trading.

    The company said it plans for its “More Roads to Harley-Davidson” initiative to generate “more than $1 billion” in annual revenue in 2022. In July 2018, the company had said it expected its new sales strategy to generate up to $1.5 billion in additional revenue by 2022.

    #22117
    ThePitBoss
    Participant

    Harley-Davidson Inc. (NYSE: HOG) reiterated as Neutral and target price was lowered to $33 from $35 at Wedbush.

    Market Summary > Harley-Davidson Inc
    NYSE: HOG
    33.26 USD +0.100 (0.30%)
    Closed: Oct 9, 2019

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