Harley-Davidson second-quarter profit up 30% on U.S. demand
MILWAUKEE (AP) — Harley-Davidson Inc. says its second-quarter net income jumped 30 percent on higher U.S. demand for motorcycles.
Harley reported net income of $247.3 million, or $1.07 per share, for the three months ended July 1st. That’s up from $190.6 million, or 81 cents per share, a year ago.
Analysts polled by FactSet expected earnings of $1.05 per share.
Revenue jumped 17 percent to $1.57 billion. That was below average Wall Street expectations of $1.64 billion. The company says its sales were hurt by warmer-than-usual weather in the first quarter that pulled forward some sales.
By volume, retail sales of new bikes rose 2.8 percent worldwide, while U.S. unit sales increased 4 percent.
Harley says it’s cautious about its prospects for the rest of the year, given the economic uncertainty, especially in Europe.