Harley-Davidson (NYSE:HOG) shares are up in double digits today on the back of a robust third-quarter performance.
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Revenue rose 20.4% year-over-year to $1.65 billion, outperforming estimates by nearly $290 million. EPS at $1.78 too, comfortably beat expectations by $0.38.
Importantly, global motorcycle shipments surged 19% year-over-year during this period as production levels witnessed a recovery.
HOG has reiterated its guidance for the full-year 2022 for HDMC revenue, HDMC margin as well as HDFS performance. Further, the company bought back shares worth $12 million during the quarter.
Looking ahead to full year 2022, it expects HDMC revenue growth between 5% and 10%, and HDMC operating margin between 11% and 12%. HDFS operating income is seen declining by 20% to 25%.
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