Harley-Davidson Inc. HOG is the world’s leading designer and manufacturer of heavyweight motorcycles and related products and merchandise. The large market share provides scale advantages over most competitors. Furthermore, the company maintains an extremely strong franchise. It is also expanding its product portfolio to increase its customer base. However, Harley-Davidson has been facing challenges like lower shipments and unfavorable foreign currency exchange. These factors pulled down revenues in 2015. The company has also been struggling to increase the operating income of the Financial Services segment. Estimate Trend & Surprise History Investors should note that the first-quarter earnings estimate for Harley-Davidson inched down by a cent over the last 7 days. However, the company has a track record of delivering positive earnings surprises. It has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average beat of 2.57%. Investors have been eagerly awaiting Harley-Davidson’s latest earnings report to see whether it outperforms this time as well. Zacks Rank Harley-Davidson currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this Wisconsin-based motorcycle manufacturer’s earnings announcement below: Earnings Beat Estimates Harley-Davidson raked in earnings of $1.36 per share that surpassed the Zacks Consensus Estimate of $1.28. Further, earnings were higher than $1.27 recorded in the year-ago quarter. Revenues Top Estimates Revenues from Motorcycles and Related Products improved to $1.58 billion in first-quarter 2016 from $1.51 billion in the year-ago quarter. Further, the figure topped the Zacks Consensus Estimate of $1.49 billion. Harley-Davidson logged consolidated revenues of $1.75 billion, which improved from $1.67 billion posted a year-ago. Key Stats/Developments to Note Harley-Davidson reaffirmed its guidance for motorcycle shipments in 2016 at 269,000–274,000 units, up to 1%–3% year over year. In the second quarter of 2016, Harley-Davidson expects to ship 82,500 to 87,500 motorcycles, compared with 85,172 motorcycles shipped in the year-ago period. Market Reaction So far, Harley-Davidson’s shares have gained 5.86% in pre-market trading following the release. Clearly, the initial reaction to the release is positive. Check back later for our full write up on Harley-Davidson’s earnings report! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HARLEY-DAVIDSON (HOG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research