HOG Reports 3rd Quarter Results; Sales Down Slightly in U.S.
As a publicly-traded company, Harley-Davidson (NYSE: HOG) is required to share their financials on a regular basis so that investors can make informed decisions about the company. Today is one of those days where Harley-Davidson posted their 3rd quarter earnings for the year. Sales were down slightly compared to this time last year.
Dealership sales were down 1.4% over last year, with a drop of 2.5% in sales here in the United States. As a bit of good news, global sales were up 0.9% internationally.
Matt Levatich, President and Chief Executive Officer said, “We expect a heightened competitive environment to continue for the foreseeable future, and now is the time for us to dial things up with significant additional investments in marketing and product development.”
For 2016, Harley-Davidson is planning on increasing their customer-facing advertising by 65% over what they invested this year, with the goal of growing U.S. sales and getting more Americans on bikes. Spending more money to acquire these new riders is key to that success.
Since the stock market also expects growth, news of the slight decline at HOG dropped the stock nearly 14% as this article goes to print. For those who believe in the long-term of the company and their forward-looking statements, now might be the time to get in while the stock is on sale.
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