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Harley-Davidson Quarterly Sales, Profits Decline
Third-quarter revenue for Harley-Davidson Inc. dropped 4% to $1.1 billion, and net earnings fell 8% to $150 million.
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Third-quarter revenue for Harley-Davidson Inc. dropped 4% to $1.1 billion, and net earnings fell 8% to $150 million.
The decline in revenue was expected: The Milwaukee-based motorcycle maker deliberately reduced shipments in July-September 6% to 50,700 bikes to balance inventories. Global retail sales for the period rose 4% to 73,000 units.
The company expects full-year shipments to rise at least 3.5% to 270,000 units in 2014. It forecasts an operating margin of about 18%.
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