Higher Sales Rev-Up Harley-Davidson’s Quarterly Profit

Date: Apr 25 2013

Filed under: Earnings, Transportation, Consumer Goods, Manufacturing, Stocks

harley davidson earnings
Justin Sullivan/Getty Images

MILWAUKEE — Harley-Davidson says its first-quarter net profit rose almost 30 percent as it shipped more motorcycles to dealerships around the world.

The Milwaukee company says it earned $224.1 million, or 99 cents a share, from January through March. That’s up from $172 billion, or 74 cents a share, a year earlier.

Harley-Davidson Inc. (HOG) says the increase came because of lower costs due to restructuring and a 17 percent increase in motorcycle shipments. The company shipped more than 75,000 motorcycles to dealerships in the quarter, up from 64,000 last year.

Revenue rose almost 10 percent to $1.57 billion from $1.43 billion.

The performance beat Wall Street’s expectations. Analysts polled by FactSet expected earnings of 97 cents a share on revenue of $1.47 billion.

 

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