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Harley Shares Climb as Profit Tops Estimate Despite Production Snarls

  • CEO Zeitz drove profit even with two-week production halt
  • Motorcycle unit sales fell 28% in key North America market
Motorcycles at a Harley-Davidson dealership in Louisville, Kentucky.

Motorcycles at a Harley-Davidson dealership in Louisville, Kentucky.

Photographer: Luke Sharrett/Bloomberg
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Harley-Davidson Inc. shares rose the most in five months after second-quarter profit and revenue beat estimates, a sign that Chief Executive Officer Jochen Zeitz’s turnaround plan is helping the motorcycle maker overcome supply-chain headaches and a temporary production shutdown.

The Milwaukee-based company posted earnings of $1.46 a share, well over the $1.02 average of analysts’ estimates compiled by Bloomberg. Revenue from motorcycles and related products rose to $1.27 billion, compared with the $1.25 billion forecast by analysts. Harley shares rose 6.7% at 10:10 a.m. in New York and earlier gained 10%, the most on an intraday basis since early February.