“Motor-sickle” manufacturer Harley-Davidson Inc (NYSE:HOG) just about beat the consensus earnings forecast in the third quarter.
Net income of US$68.2mln was equivalent to 40 cents, well down on the 64 cents in the same quarter of last year but a penny above the consensus forecast.
Revenue rose 3.2% to US$189.1mln from US$183.2mln the previous year, despite a 6.9% decline in retail motorcycle sales to 64,209.
"The continued weakness in the US motorcycle industry only heightens our resolve and the intensity we are bringing to the quest to build the next generation of Harley-Davidson riders," said Matt Levatich, president and chief executive officer of Harley-Davidson.
"Launching one hundred new high-impact motorcycles is a critical part of our 10-year journey, and the all new Softail line-up is a significant statement of our commitment," he added.
Harley-Davidson continues to expect to ship 241,000 to 246,000 motorcycles to dealers worldwide in 2017, which is down about 6% - 8% from 2016.
In the fourth quarter, the company expects to ship 46,700 to 51,700 motorcycles compared to 42,414 motorcycles shipped in the year-ago period.
The shares were not exactly burning rubber in pre-market trading, reversing 67 cents to US$45.90.