Harley-Davidson beats on earnings and shares are rising in pre-market trading (HOG)

Harley Davidson Motorcycle Scotland

REUTERS/Paul Hackett

• Harley-Davidson beat estimates for Q1 earnings.

• The motorcycle maker still saw deep declines in US sales.

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Harley-Davidson posted a beat for first-quarter earnings on Tuesday. The iconic American motorcycle maker made $1.03 per share on a non-adjusted basis, surpassing analysts' expectations of $1.01.

Total revenue for the quarter was $1.36 billion.

Harley saw a 12% decline in US sales for the quarter, a sign that the structural weakness in the company's home market is continuing. 

The motorcycle maker, based in Milwaukee, sells its bikes for a lot of money on average, but ridership has been on the decline for years. Recently, Harley announced that it would unveil an all-electric hog by 2019, and it logged an investment in electric dirt-bike manufacturer Alta Motors in March.

Harley shares had dipped over 16% year-to-date, but in pre-market action on Tuesday, they were trending sharply higher, up nearly 6% to $43.

HOG Chart

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