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Stock impact report

Harley-Davidson cuts dividend but stock gains after earnings [MarketWatch]

Harley-Davidson, Inc. (HOG) 
Last harley-davidson, inc. earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: MarketWatch
Shares of Harley-Davidson Inc. are up 3% in premarket trading Tuesday after the company missed earnings expectations for the first quarter but announced "aggressive cost management efforts" amid the pandemic. The company posted net income of $69.7 million, or 45 cents a share, down from $127.9 million, or 80 a share, a year earlier. Adjusted EPS fell to 51 cents from 98 cents, while analysts surveyed d by FactSet had been modeling 58 cents. Harley recorded consolidated revenue of $1.3 billion for the quarter, down from $1.38 billion a year prior. The company's results included $1.1 billion in revenue from motorcycles and related products, down from $1.2 billion a year earlier. Harley said that U.S. retail sales of motorcycles had been up 6.6% "until the pandemic took hold in the U.S. in mid-March" but that they finished down 15.5% for the full quarter. International retail sales dropped 20.7%. The company said that its board approved a dividend of 2 cents a share for the second quarte Show less Read more
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