posted higher revenue for the recently ended quarter as it recovered from an unexpected production pause in the spring and shipped nearly 20% more motorcycles globally.
The Milwaukee-based motorcycle company said Wednesday that higher shipments, along with price and mix as well as manufacturing leverage and lower tariffs, contributed to a 24% jump in revenue for its division that makes motorcycles, parts and apparel.
Still, global retail sales of Harley-Davidson’s motorcycles slipped 2% from a year ago, as the company struggled to stock dealerships in North America. North American retail sales fell 5%, the company said. In the prior quarter, Harley-Davidson was hit by a production pause in May due to a supply-chain problem that drained the stock of motorcycles.
Shares of Harley-Davidson rose more than 2% to $38.05 in premarket trading.
For the three months ended Sept. 30, Harley-Davidson posted earnings of $261.2 million, or $1.78 a share, compared with $163 million, or $1.05 a share, a year ago. Analysts surveyed by FactSet were expecting earnings of $1.39 a share.
Revenue rose 21% to $1.65 billion in the third quarter, topping Wall Street expectations for sales of $1.36 billion.
Toward the end of the recent quarter, Harley-Davidson completed the spinoff of its electric-motorcycle division, LiveWire Group Inc., which merged with a special-purpose acquisition company to become a separate public company.
Write to Will Feuer at [email protected]
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