Harley-Davidson's stock rises after profit beats expectations by a wide margin, while motorcycle shipments fell again

Core Insights - Harley-Davidson Inc. reported a significant earnings beat for the fourth quarter, with net income of $25.8 million, or 18 cents per share, surpassing the FactSet consensus of 4 cents per share [1] - Despite the profit beat, motorcycle shipments continued to decline, falling 13% for the third consecutive quarter due to cautious dealer inventory management and market conditions [1] - Revenue decreased by 7.8% to $1.05 billion, although it exceeded the FactSet consensus of $998.2 million [1] Financial Performance - Net income decreased from $41.9 million, or 28 cents per share, in the previous year to $25.8 million, or 18 cents per share [1] - Revenue fell by 7.8% year-over-year to $1.05 billion [1] - Motorcycle sales dropped 12.5% to $583 million, while parts and accessories sales decreased by 13.9% to $130 million [1] Motorcycle Shipments and Sales - Motorcycle shipments fell by 13%, marking the third straight quarter of declines [1] - The company sold 514 LiveWire electric motorcycles in the fourth quarter, a significant increase from 69 units sold in the same period last year [1] - Harley-Davidson anticipates shipping between 1,000 to 1,500 electric motorcycles in 2024 [1]