Eddy Elfenbein submits: Due to the strike, Harley-Davidson (HOG) is lowering its outlook:
The company said it now expects earnings growth of four percent to six percent over 2006, when it posted a profit of $1.04 billion, or $3.93 per share. The company expects earnings growth to return to a rate of 11 percent to 17 percent in 2008 and 2009. Harley-Davidson said in January that it expected revenue growth of between 11 percent and 17 percent each year through 2009.
Analysts polled by Thomson Financial forecast a 2007 profit of $4.33 per share and earnings in 2008 of $4.81 per share.
This is unfortunate news, but ultimately, it shouldn't have a major impact on Harley's business. The shares will take a hit today, but I'd be far more concerned if Harley saw lower demand for its bikes.
HOG 1-yr chart
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