Harley Davidson 3rd Quarter Results

Harley-Davidson’s third-quarter profit fell almost 8 percent. This is due to a planned reduction of shipments during the quarter.

The good news for HD is the earnings topped Wall Street expectations. For those that hold shares they climbed more than 6 percent in afternoon trading. That means more money in your portfolio.

Net income was $150.1 million, or 69 cents per share, from July through September. That is 10 centers per share lower than a year ago.

Harley-Davidson Inc. shipped 50,670 motorcycles worldwide. That represents a planned decrease of 6.2 percent that led to a decline in revenue.

Dealers worldwide sold more than 73,000 new bikes during the quarter, marking a 4 percent increase over the prior year.

The company estimates that it will ship 270,000 to 275,000 motorcycles worldwide this year, a 3.5 percent to 5.5 percent increase over 2013. After the first quarter it expected 7 percent to 9 percent shipment growth. Harley-Davidson also expects to make capital expenditures of $215 million to $235 million this year, and post a full-year operating margin of 17.5 percent to 18.5 percent.

Harley’s shares rose $3.58, or 6.1 percent, to $61.96 in afternoon trading Tuesday.

The shares have declined 8.6 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 3 percent.