American motorcycle manufacturing company Harley-Davidson (NYSE:HOG) will be reporting results tomorrow before market open. Here's what investors should know.
Last quarter Harley-Davidson reported revenues of $1.05 billion, down 7.8% year on year, beating analyst revenue expectations by 20.4%. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates but a miss of analysts' motorcycle shipments estimates.
Is Harley-Davidson buy or sell heading into the earnings? Find out by reading the original article on StockStory, it's free.
This quarter analysts are expecting Harley-Davidson's revenue to decline 24.7% year on year to $1.35 billion, a deceleration on the 19.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.54 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 19.3%.
Looking at Harley-Davidson's peers in the consumer discretionary segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Nike (NYSE:NKE) delivered top-line growth of 0.3% year on year, beating analyst estimates by 1.1% and Carnival (NYSE:CCL) reported revenues up 22% year on year, inline with analysts' estimates. Nike traded down 7% on the results, Carnival was down 4.1%.
Read the full analysis of Nike's and Carnival's results on StockStory.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022 and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 4.1% over the last month. Harley-Davidson is down 7% during the same time, and is heading into the earnings with analyst price target of $45.2, compared to share price of $39.74.