Harley-Davidson’s income declines in second quarter

Freeman Staff

July 21, 2015

MILWAUKEE — Harley-Davidson, Inc. reported Tuesday a decline in income and revenue during the second quarter of 2015 when compared to the same period last year, which it attributed to increase competition and company decisions.

During the second-quarter of 2015, diluted earnings per share were $1.44 compared to EPS of $1.62 in the year-ago period and net income was $299.8 million on consolidated revenue of $1.82 billion compared to net income of $354.2 million on consolidated revenue of $2 billion in the year-ago period.

According to the announcement from Harley-Davidson, second-quarter results are in line with the company’s expectations “following Harley-Davidson’s decision in April to lower motorcycle shipments from initial projections for 2015 in light of currency-driven competitive pressures in the U.S. and the company’s commitment to manage supply in line with demand.”

In addition, dealer new motorcycle sales were down 1.4 percent worldwide for the second quarter compared to the second quarter of 2014, but sales were improving by the end of the period.

“In the face of a tough competitive environment, driven mostly by currency and greater competitive activity, we are leveraging our many strengths and meeting the challenge head on,” said Matt Levatich, president and chief executive officer, of Harley-Davidson, in a statement. “Our actions during the quarter have had a positive impact. We are encouraged by the momentum at retail as the quarter progressed, both in the U.S. and internationally.”

www.harley-davidson.com