Harley-Davidson stock soars after surprise profit

Harley-Davidson Inc. stock soared nearly 14% in Tuesday trading after the motorcycle company reported a surprise fourth-quarter profit. Net income totaled $21.6 million, or 14 cents per share, after a loss of $96.4 million, or 63 cents per share, last year. Adjusted EPS of 15 cents was well ahead of the FactSet consensus for a loss 34 cents. Revenue of $1.016 billion million was up from $725.0 million last year and also ahead of the FactSet consensus for $669.0 million. For 2022, Harley-Davidson expects revenue for its motorcycles and related products segment to growth 5% to 10% from $4.54 billion in 2021. Harley-Davidson stock is up 16.7% for the past year while the S&P 500 index has gained 15.2%.

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