12:33 PM EDT, 04/25/2024 (MT Newswires) -- (Updates with stock price movement in first paragraph)

Harley-Davidson ( HOG ) shares dropped nearly 16% in recent Thursday trading after the company reported lower Q1 results.

The company reported Q1 earnings of $1.72 per diluted share, down from $2.04 a year earlier.

Analysts surveyed by Capital IQ expected $1.52.

Revenue for the quarter ended March 31 was $1.73 billion, down from $1.79 billion a year earlier.

Price: 33.14, Change: -6.30, Percent Change: -15.98