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Harley-Davidson 1Q profit and sales top estimates

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MILWAUKEE — Harley-Davidson Inc. on Tuesday reported first-quarter earnings of $127.9 million.

On a per-share basis, the Milwaukee-based company said it had profit of 80 cents.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The motorcycle maker posted revenue of $1.38 billion in the period. Its adjusted revenue was $1.2 billion, which met Street forecasts.

During the quarter, the company shipped 58,891 motorcycles, compared with 63,944 a year ago. For the full year it expects to ship 217,000 to 222,000 motorcycles, including between 65,500 and 70,500 in the second quarter.

Harley-Davidson shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 16 percent. The stock has fallen 3 percent in the last 12 months.

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