Harley-Davidson's Profit Declines 25.6%, Hurt By A Drop In Shipments

Harley-Davidson's Profit Declines 25.6%, Hurt By A Drop In Shipments

Harley-Davidson Inc reported a 25.6 percent fall in quarterly profit (Photo: Reuters)

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Iconic motorcycle maker Harley-Davidson Inc reported a 25.6 percent fall in quarterly profit, hurt by a drop in shipments.

The Milwaukee-based company’s net income fell to $ 186.37 million, $ 1.05 per share, in the first quarter ended March 26, from $ 250.49 million, or $ 1.36 per share, a year earlier.

Revenue from motorcycles and related products fell 15.7 percent to $ 1.33 billion.

Harley said it continues to expect full-year shipments to be flat to down modestly.

The decline in the U.S. was mostly behind the weaker-than-expected results for the iconic manufacturer, as the home market forms roughly two-thirds of the net shipments for the company.

As per analyst, Company’s first quarter shipments were helped by warmer-than-usual weather that led to an early start to the annual riding season, probably resulting in a pull-forward in demand from the second quarter.

In order to grow its business now, Harley is looking for growth in international markets by increasing its reach to the outreach segment.

First Published: April 18, 2017, 6:25 PM IST

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Craig Ballantyne

I love anything to do with Harley Davidson and have two beautiful children and a beautiful partner. In my spare time i like building websites and love anything to do with the internet.

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