Sales up, earnings down for Harley

Freeman Staff

Oct. 21, 2014

MILWAUKEE — Harley-Davidson, Inc. dealers sold more new motorcycles in the third quarter of this year, but the company saw earnings per share, net income and revenue fall compared to last year.

The company’s diluted earnings per share fell from $0.73 to $0.69, net income was down to $150.1 from $162.7 and revenue came in at $1.30 billion compared with $1.34 billion last year.

In announcing the results, the company said they reflected lower motorcycle shipments, as planned, compared to last year.

Chairman, President and CEO Keith Wandell said the results were in line with expectations and the company was “on track for a year of growth and strong financial performance in 2014.

The company’s dealers sold 73,217 new motorcycles in the third quarter, an increase of nearly 3,000 from 2013. U.S. dealers saw an increase of 3.4 percent, the Asia Pacific region was up 12.8 percent, Europe, the Middle East and Africa rose 1.7 percent and Latin America was up 7 percent. Canada saw a decrease of 5.8 percent.

Company officials said the results came after 2013’s third quarter was one of the strongest single-quarter increases in recent years.