Harley-Davidson beats Q1 earnings expectations with $2.04 EPS

Harley-Davidson ($HOG@US) reported better-than-expected first-quarter earnings of $2.04 per share, beating Wall Street estimates of $1.39 a share. Sales came in at $1.8 billion compared to the $1.4 billion expected. The American motorcycle manufacturer expects sales to grow between 4 percent and 7 percent year over year, which would equate to full-year sales between about $5.1 billion and $5.2 billion. Some analysts remain cautious about the impact of rising inventories and a decelerating rate of US consumer spending on the company's future performance. Global dealer inventories were up 57 percent year over year in the fourth quarter but are still almost 40 percent below pre-pandemic levels. Harley-Davidson's stock rose by 3.4 percent in early trading.