Saturday, September 23, 2023
HomeNewsHarley-Davidson Posts Higher Revenue on More Shipments

Harley-Davidson Posts Higher Revenue on More Shipments

[ad_1]

Harley-Davidson has struggled to stock dealerships in North America.



Photo:

Luke Sharrett/Bloomberg News

Harley-Davidson Inc.


HOG 6.76%

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]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

[ad_2]

Source link

RELATED ARTICLES

Most Popular

Recent Comments