Harley, Comcast, Carlisle Cos. report positive Q2s
Harley-Davidson Inc., Comcast Corp. and Carlisle Companies Inc. had good news in their quarterly earnings reports released Tuesday.
Harley-Davidson reported second-quarter 2014 net income of $354.2 million on consolidated revenue of $2 billion, compared to net income of $271.7 million in the year-ago period on consolidated revenue of $1.79 billion. Diluted earnings per share of $1.62 grew 33.9 percent on higher motorcycle shipments and continued improvement in operating efficiencies, compared to the year-ago period, according to a company news release.
However, the company has lowered its full-year guidance for new motorcycle shipments from growth of approximately 7 percent to 9 percent to growth of approximately 3.5 percent to 5.5 percent. The change reflects the company’s “commitment to manage supply in line with demand,” according to the release.
Harley previously had said it expected full-year shipment of 279,000 to 284,000 motorcycles. In the third quarter of 2014, the company said it expects to ship 49,000 to 54,000 motorcycles, compared to shipments of 54,025 motorcycles in the year-ago period. Harley said it still expects a full-year 2014 operating margin of 17.5 percent to 18.5 percent in the motorcycles segment.
Dealers worldwide sold 90,218 new motorcycles in the second quarter, compared to 90,193 motorcycles for the same time last year, according to the company. In the U.S., dealers sold 58,225 new motorcycles in the quarter, compared to sales of 58,241 motorcycles in the year-ago period. Harley said second-quarter U.S. retail sales were adversely affected by prolonged poor weather across parts of the U.S. and soft Sportster motorcycle sales ahead of the anticipated arrival of Street motorcycles in dealer showrooms.
Harley-Davidson, headquartered in Milwaukee, has about 1,000 local employees at its Springettsbury Township plant, according to Business Journal records. The plant assembles the company’s Touring, Softail, CVO and Trike models and makes parts including frames, fuel tanks and fenders. The company trades its shares on the New York Stock Exchange under the ticker HOG.
At noon, Harley's share price was $63.08, down $4, or 5.96 percent.
Comcast reported net income for the second quarter of $1.99 billion, a nearly 15 percent increase over the $1.73 billion net income in the year ago quarter, according to a news release from the company. Consolidated revenue increased 3.5 percent to $16.8 billion.
Earnings per share was 76 cents, a 16.9 percent increase from the 65 cents reported in the second quarter of 2013, according to the release. Excluding a gain on the sale of an investment and transaction-related costs in the second quarter of 2014, earnings per share increased 15.4 percent to 75 cents.
Consolidated operating cash flow increased 7 percent to $5.8 billion. Excluding $44 million of Time Warner Cable and Charter transaction-related costs in the second quarter, consolidated operating cash flow increased 7.8 percent, according to the company.
During the second quarter of 2014, Comcast paid dividends totaling $585 million and repurchased 15 million of its common shares for $750 million, according to the release. In the first six months of 2014, Comcast has repurchased 29.9 million of its common shares for $1.5 billion. As of June 30, Comcast had approximately $6 billion available under its share repurchase authorization.
Carlisle Cos. reported $859.5 million in net sales for the second quarter, an increase of 8.4 percent over the year-ago quarter, according to a news release from the company.
Income from continuing operations rose 18 percent to $75.7 million, or $1.15 per diluted share, during that time, according to the release.
“Income growth was primarily driven by higher sales volume and savings from the Carlisle Operating System, partially offset by higher product costs at (Carlisle Construction Materials) and reductions in selling price,” the company stated in the release.
“We achieved solid organic sales growth of 8.0 percent during the quarter with each of our segments increasing sales,” David A. Roberts, chairman, president and CEO, said in the release.
The company, which trades on the New York Stock Exchange under the ticker CSL, maintains Carlisle WIP Products, a division of Carlisle Construction Materials Inc., in Carlisle. The site makes construction products for steep-slope and low-slope residential and commercial applications.