This Wednesday, April 26, 2017, photo shows the
Harley-Davidson name on the gas tank of a 2017
Harley-Davidson Road King FLHR at a Harley-Davidson
dealership, in Glenshaw, Pa.
NEW YORK — Profit continued to slide
at Harley-Davidson during the third quarter as sales
slowed faster in the U.S., its biggest market, than
anywhere else other than Latin America.
Earnings fell 40 percent to $68.2
million, or 40 cents per share, though that matched Wall
Street expectations, according to a survey by Zacks
Revenue fell 11.8 percent to $962.1
million, a trail-off that was not as bad as the revenue
of $960.8 million industry analysts had expected. Shares
edged slightly lower before the opening bell Tuesday.
"The continued weakness in the U.S.
motorcycle industry only heightens our resolve and the
intensity we are bringing to the quest to build the next
generation of Harley-Davidson riders," said President
and CEO Matt Levatich.
Sales fell in every region, globally,
led by Latin America with a decline of 11.5 percent.
U.S. sales, the company's most important market, had an
8.1 percent decline. Motorcycle shipments fell 6.9
The Milwaukee company expects
shipments to fall between 6 percent and 8 percent in
Shares of Harley-Davidson Inc. have
decreased 20 percent since the beginning of the year.