Skip navigation
Watchlist Sponsored By :

As of Friday, November 13th:
The blended earnings growth rate for the S&P 500 for Q3 2009, combining actual numbers for companies that have reported, and estimates for companies yet to report rose to -13.8% from -13.9% in the previous day.
As of October 1st, the earnings growth rate was at -24.7%.Of the 463 S&P 500 companies who have reported Q3, 80% beat estimates, 6% were in-line, and 14% were below estimates.  The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.8%. (Data provided by Thomson Reuters)

LATEST EARNINGS RESULTS


Current DateTime: 06:32:48 14 Nov 2009
LinksList Documentid: 29017166
Expiration DateTime: 11/14/2009 6:33:26 PM

Current DateTime: 06:32:50 14 Nov 2009
LinksList Documentid: 24355697

FEATURED QUIZZES


Current DateTime: 06:32:50 14 Nov 2009
LinksList Documentid: 33793611
  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

  • The Many Myths of Coca-Cola

      Can you tell which statements are true, and which ones are just rumors?

  • Think You Understand Markets?

      We've selected some questions from the Financial Industry Regulatory Authority's test of investor knowledge. See how you do ...


Current DateTime: 06:32:50 14 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Harley-Davidson Profit Tumbles on Weak US Sales
By: Reuters | 25 Jan 2008 | 11:18 AM ET
Text Size

Harley-Davidson said Friday quarterly earnings fell 26 percent as sales of its iconic motorcycles tumbled in the United States, its biggest and most important market, sending shares down 5 percent.

Turmoil in the housing market and a related tightening in credit markets have forced U.S. consumers to rein in their spending. And Chief Executive Jim Ziemer said the company  was not counting on a rebound.

"Consumer confidence is low and housing and credit issues persist," he said during a conference call with analysts. "All this adds up to a weak retail sales environment for major discretionary purchases, including our motorcycles."

The market was initially encouraged by Harley's sales outside the U.S. and the absence of any announcement of production cuts, leading to a 6 percent rally shortly after the opening bell. But those gains were erased within an hour.

The Milwaukee-based company reported a fourth-quarter net profit of $186.1 million, or 78 cents a share, compared with $252.4 million, or 97 cents a share, last year.

Sales fell 7.7 percent to $1.39 billion, the company said, pulled down by a 14.2 percent decline in U.S. bike sales.

Analysts, on average, expected the Milwaukee-based company to report a profit of 81 cents a share on sales of $1.34 billion.

Craig Kennison, an analyst at Robert W. Baird, called the quarter "mixed" and said it had "something to offer bulls and bears."

Sales outside the United States rose during the quarter, led by a 45.9 percent jump in Canadian sales. Exports account for 27 percent of overall shipments.

Results were also pulled down by its financial services unit, where operating income fell 19 percent as a result of a $6.4 million write-down on customer  loans -- a sign of the growing stress on U.S. consumers. Delinquency rates also increased during the quarter.

Even so, Harley-Davidson maintained its guidance for 2008 of earnings-per-share growth of 4 to 7 percent.

UBS analyst Robin Farley said Harley faced "an uphill battle" in 2008 that would probably require additional production cutbacks. Farley also predicted that all of the 2008 earnings growth Harley is promising will come from share repurchases rather than organic growth.

Last year the company bought back more than $1 billion of its stock.

Harley shares [HOG  Loading...      ()   ] were down $2.12 to $38.00 on the New York Stock Exchange.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon

Current DateTime: 06:32:51 14 Nov 2009
LinksList Documentid: 29016957
Expiration DateTime: 11/14/2009 6:33:57 PM

Current DateTime: 06:32:51 14 Nov 2009
LinksList Documentid: 29017287
Expiration DateTime: 11/14/2009 6:33:27 PM


Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:02:29 14 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters