Tuesday, April 11, 2017

Uniform Accounting Highlights HOG’s Adjusted EPS Growth is Limited, And Valuations Relative to Earnings Are Not As Inexpensive As They First Appear

  • HOG’s traditional EPS is materially distorted by the age of their assets, and the resultant depreciation charges

  • After making the appropriate UAFRS adjustments, EPS’ is significantly lower than as-reported EPS last year, and will continued to be lower going forward

  • At current valuations, markets are pricing in expectations for growth prospects that are likely unrealistic, indicating the potential for pressure on multiples

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Submitted April 11, 2017 at 08:46PM by Valens_Research http://ift.tt/2p5KRz6
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