Harley-Davidson reports profit and revenue decline

Harley-Davidson Inc. reported third-quarter net income of $ 68.2 million, or 40 cents per share, down from $ 114.1 million, or 64 cents per share, for the same period last year. The FactSet consensus was 39 cents. Revenue totaled $ 962.1 million, down from $ 1.09 billion last year but ahead of the $ 952.0 million FactSet estimate. Harley-Davidson noted that while its U.S. motorcycle sales were down 8.1% year-over-year, the overall U.S. industry was down 9.2% for the period. The company continues to expect to ship 241,000 to 256,000 motorcycles to dealers around the world in 2017 down 6% to 8% from last year. In the fourth quarter the company expects to ship 46,700 to 51,700 in the fourth quarter compared with 42,414 last year. Harley-Davidson shares are inactive in Tuesday premarket trading, and down 20.2% for the year so far. The S&P 500 index was up 14.2% for 2017 so far.

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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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