Iconic motorcycle manufacturing company Harley Davidson Inc (NYSE: HOG) has seen its stock notch up gains of 40% over the course of the past month. This morning the stock was on the move once again and jumped by 5.5%.
The rally in the stock came about after investors seemed to have been satisfied by the company’s financial results in the first quarter. Harley Davidson managed to grow its revenues by 10% on a year-on-year basis during the first quarter.
More importantly, the earnings per share went up almost fourfold year on year. That was primarily driven by the rising demand for touring motorcycles. On the other hand, Harley Davidson also managed to implement its cost control measures well. That was achieved through the generation of higher margins and also through a reduction in certain operational expenses like overhead expenses and sales-related incentives. The North American market was especially kind to Harley Davidson and helped in neutralizing the weakness in South America and Europe.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.