North American retail strength offsets weak international sales
Harley-Davidson on Thursday reported net income of $79.8 million for the three months ended June 30, down from $107.6 million in the same period a year earlier. Total revenue fell 5.9% to $1.23 billion, but came in ahead of Wall Street models that had forecast $1.17 billion.
Earnings of 75 cents per share topped the 64 cents per share that analysts polled by FactSet had expected.
Global retail motorcycle sales ticked up 0.5% to roughly 42,500 units, the company said, with growth in North America offsetting weaker results in international markets.
“Our second-quarter performance reflects strength in our domestic retail business, continued focus on healthy dealer inventory levels and the exceptional commitment of our dealer network,” Chief Executive Artie Starrs said in a statement.
The company now expects global motorcycle retail sales of 133,500 to 138,500 units for the full year, compared with its prior outlook of 130,000 to 135,000 units. The revised range represents an increase of 3,500 units at the midpoint.