The Johnson & Johnson Q2:F17 and Harley-Davidson Q2:F17 earnings reports were released before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.83 per share on $18.8 billion in sales, compared to the consensus estimates of $1.79 per share and $18.95 billion in revenue. In last year’s second quarter, the company posted $18.48 billion in revenue.
Harley-Davidson posted earnings of $1.48 per share on $1.58 billion in motorcycle and related products revenue. The consensus was looking for $1.38 per share in earnings on $1.6 billion in sales. In last year’s second quarter, the motorcycle maker reported $1.55 per share in earnings on $1.67 billion in sales.
Johnson & Johnson Q2:F17 earnings
Johnson & Johnson’s GAAP earnings per share fell to $1.40 from $1.43 per share in last year’s second quarter. Worldwide Consumer sales grew 1.7% year over year to $3.5 billion, just edging out the consensus at $3.4 billion. Worldwide Pharmaceutical sales ticked lower by 0.2% to $8.6 billion, while consensus had been looking for $8.7 billion. Medical device sales grew 4.9% to $6.7 billion, compared to the consensus of $6.7 billion.
Johnson & Johnson also adjusted its guidance for the full year. It now looks for sales to be between $75.8 billion and $76.1 billion, compared to the previous outlook of between $75.4 billion and $76.1 billion. The firm also boosted its adjusted earnings guidance to a range of $7.12 to $7.22 per share, from the previous range of $7 to $7.15 per share.
Following the Johnson & Johnson Q2:F17 earnings report, the company’s stock rose by as much as 1.4% to $134 in premarket trading this morning.
Harley-Davidson Q2:F17 earnings
Harley-Davidson shipped 81,388 motorcycles during the second quarter, a 6.7% decline from last year’s second quarter. Worldwide retail motorcycle sales fell 6.7% year over year. U.S. motorcycle sales fell 9.3%. The company’s U.S. market share stood at 48.5% in the 602cc-plus segment during the second quarter. International retail sales declined 2.3%.
Harley-Davidson also slashed its outlook for motorcycle shipments this year to a decline of between 6% to 8%. The company’s previous outlook had been “flat to down modestly.” The company expects motorcycle shipments during the third quarter to be down by 10% to 20%, which would be a range of 39,000 to 44,000.
After the Harley-Davidson Q2:F17 earnings report, the company’s stock ripped lower by as much as 8% to $47.84 in premarket trading this morning.