- Harley-Davidson (NYSE:HOG) reports global motorcycle sales fell 4.6% in Q3 to 22,416 units. U.S. motorcycle sales were down 8.1% to 41,793 units. Total motorcycle sales were down 6.9% to 64,209 units.
- Motorcycle shipment revenue fell 17.2% to $653M, while parts & accessories revenue was down 0.7% to $230M.
- The company's gross margin dropped a full 4.8 percentage points to 28.8%. Operating margin plunged 800 bps to 2.0%.
- Looking ahead, Harley expects to ship 241K to 246K units this year and see a 1% drop in operating margin compared to a year ago.
- Previously: Harley-Davidson beats by $0.01, beats on revenue (Oct. 17)
- HOG +0.92% premarket to $47.00.