Shares of motorcycle manufacturer Harley-Davidson (HOG) closed 7.2% lower on Wednesday despite its strong second-quarter 2021 financial results. The Wisconsin-based company makes touring, custom and cruiser motorcycles. Adjusted earnings per share (EPS) totaled $1.41, surpassing analysts’ expectations of $1.17. The company had reported a loss of $0.38 per share in the second quarter of 2020. Quarterly revenue increased 77% year-over-year to $1.53 billion, beating the Street’s estimates of $1.42 billion. The rise was driven by growth in the Motorcycles and Related Products segment. Global retail motorcycle sales jumped 24% to 65,300 units; revenue from the Motorcycles and Related Products segment almost doubled to $1.
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Harley Davidson (NYSE:HOG)
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