Harley Revs It Up (HOG)

Paul Ausick

Motorcycle icon Harley-Davidson Inc. (NYSE: HOG) posted better-than-expected sales and almost met EPS estimates for its fourth quarter ended in December. Sales were up 12% year-over-year to $1.03 billion and adjusted EPS came in at $0.24. The consensus estimate on Yahoo! Finance called for revenue of $1.01 billion and EPS of $0.23. FactSet estimated EPS at $0.24.

For the coming year, Harley provided this guidance:

Harley-Davidson expects to ship 240,000 to 245,000 motorcycles to dealers and distributors worldwide in 2012, a three-to five-percent increase compared to 2011. In the first quarter of 2012, the Company expects to ship 58,000 to 63,000 motorcycles.

For the full year, Harley-Davidson expects gross margin to be between 34.75 percent and 35.75 percent. The Company expects capital expenditures of between $190 million and $210 million in 2012, which includes approximately $25 million to support restructuring activities.