First-Quarter Results Sag for Harley-Davidson
Motorcycle maker Harley-Davidson Inc.’s first-quarter consolidated revenue fell 10% to $1.4 billion, and net earnings plunged one-third to $128 million.
Unit retail sales shrank 4% to 49,200 bikes in January-March on slumping demand in the U.S. and overseas. The company notes that tariffs and a recall that disrupted supplies contributed to the downturn.
The company predicts bike wholesales in the current quarter will be about 70,000 units compared with 63,900 in the same period last year. Full-year shipments are likely to decline to 217,000-222,000 units compared with 228,700 in 2018.
Harley-Davidson reiterates its More Roads plan to introduce 100 new models, add 2 million new riders in the U.S. and expand international business to 50% of total volume by 2027.
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