Harley-Davidson Shares Jump as New CEO’s Turnaround Delivers Revenue Beat

(Bloomberg) — Harley-Davidson Inc. shares jumped as much as 13% in premarket trading on better-than-expected profit as Chief Executive Officer Jochen Zeitz’s moves to cut costs and boost margins on a smaller revenue base paid off in the third quarter.The Milwaukee, Wisconsin-based manufacturer reported adjusted earnings per share of $1.05, beating analysts’ consensus 29 cents. In line with Zeitz’s strategy of shrinking supply and shoring up pricing, the company said dealer inventory fell more than 30% compared with a year ago, and it was able to charge asking price for 2020 model year motorcycles in the quarter.Harley shares rose as …read more

Source:: Yahoo Finance