Harley Davidson Inc, ManpowerGroup Inc Beat Earnings Estimates

Harley Davidson and ManpowerGroup released their latest earnings reports before opening bell this morning. Harley Davidson posted earnings of $1.44 per share on $1.82 billion in consolidated revenue for the second quarter. In the same quarter last year, the motorcycle manufacturer posted earnings of $1.62 per share and consolidated revenue of $1.83 billion. Analysts had been expecting earnings of $1.39 per share and revenue of $1.67 billion.

harley davidson

ManpowerGroup reported earnings of $1.33 per share on $4.86 billion in revenue. Analysts had been looking for $1.28 per share in earnings and $4.77 billion in revenue, a 9% year over year decline. In the same quarter a year ago, the company posted earnings of $1.35 per share.

Key metrics from Harley Davidson’s earnings report

Revenue from motorcycles and related products was $1.65 billion, of which $1.31 billion was motorcycle revenue, marking an 11.6% year over year decline. Revenue from parts and accessories fell 5.4% to $256.8 million. The gross margin edged downward slightly to 39.2%. The gross margin on the motorcycle segment was 23.1%.

New motorcycle sales at dealers declined 1.4% globally during the quarter, although Harley Davidson said they did pick up momentum as the quarter went on. Dealers sold 88,931 new Harley motorcycles, compared to last year’s 90,218 motorcycles. U.S. sales were 57,790 motorcycles compared to 58,225 in last year’s second quarter.

Harley Davidson still expects to ship between 276,000 and 281,000 motorcycles this year, which would be a decline of between 2% and 4%. In the current quarter, the company expects to ship between 54,000 and 59,000 motorcycles.

Shares of Harley Davidson increased as much as 2.27% to $56.20 per share in premarket trading.

Key metrics from Manpower’s earnings report

Net income for the second quarter was $105.7 million, compared to last year’s $109.8 million. Manpower management said the stronger U.S. dollar significantly impacted the company’s earnings. Revenue climbed 7% and earnings grew 16% on a constant currency basis.

For the third quarter, Manpower expects earnings to be between $1.50 and $1.58 per share. That assumes a negative impact of 24 cents per share from currencies.

Shares of Manpower increased as much as 0.39% to $95 per share in premarket trading.