Why Shares of Harley-Davidson Are Roaring Higher Today

Shares of Harley-Davidson (NYSE: HOG) jumped 20% on Tuesday morning after the motorcycle manufacturer reported third-quarter results that came in well ahead of expectations. Before markets opened on Tuesday, Harley-Davidson reported adjusted earnings of $1.05 per share on revenue of $1.17 billion, easily beating the Wall Street consensus estimate for $0.28 per share of earnings on revenue of $862 million. The company is under new management, and CEO Jochen Zeitz said in a statement that efforts to streamline operations and bring down dealer inventory were having a positive impact.