Harley-Davidson erases gains despite earnings beat

Harley Davidson bikers
Christophe Simon | AFP | Getty Images
Harley Davidson bikers

Harley-Davidson's stock fell 2.5 percent Tuesday, erasing earlier gains Tuesday despite reporting better-than-expected quarterly results.

The motorcycle company posted earnings per share of $1.36, above Reuters' estimate of $1.29 a share.

However, Harley said sales of new motorcycles declined in the United States, its biggest market. U.S. motorcycle sales fell 0.5 percent in the quarter, while worldwide sales rose 1.4 percent.

Harley's stock is down more than 24 percent in the last year, but have surged more than 12 percent in the last three months.

HOG in last 3 months

— Reuters contributed to this report.