Harley-Davidson Inc. (HOG – Analyst Report) is the world’s leading designer and manufacturer of heavyweight motorcycles and related products and merchandise. The company is expanding its product portfolio to increase its customer base. Operating income of the Financial Services segment has also started improving after declines in 2013 and 2014.

However, lower shipments and unfavorable foreign currency exchange resulted in a fall in consolidated revenues in the first nine months of 2015. An aging customer base and an expensive product range are also headwinds for the company.

Estimate Trend & Surprise History

Investors should note that the fourth-quarter earnings estimate for Harley-Davidson inched down by a cent over the last 7 days. Further, the company has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of 0.14%. Investors have been eagerly awaiting Harley-Davidson’s latest earnings report to see whether it outperforms this time as well.

Zacks Rank

Harley-Davidson currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this Wisconsin-based motorcycle manufacturer’s earnings announcement below:

Earnings Beat Estimates

Harley-Davidson raked in earnings of 22 cents per share that surpassed the Zacks Consensus Estimate of 19 cents. However, earnings were lower than 35 cents recorded in the year-ago quarter.

Revenues Top Estimates

Harley-Davidson logged revenues of $1.18 billion, beating the Zacks Consensus Estimate of $1.03 billion. Revenues however declined from $1.20 billion posted a year-ago.

Key Stats/Developments to Note

Harley-Davidson announced its guidance for motorcycle shipments in 2016 to be around 269,000–274,000 units, up to 1%–3% year over year.

In the first quarter of 2016, Harley-Davidson expects to ship 78,000–83,000 motorcycles, compared with 79,589 motorcycles shipped in the year-ago period.