Harley-Davidson Expects Additional Costs of $ 45 to $ 55 Million This Year Due to Continuing Global Trade Conflict This Year.
the front line of the trade war, when it announced that it would relocate overseas production for European consumers in order to circumvent the tariffs of the European Union. The company still has not determined which of its overseas production facilities will produce its European motorcycles.
"We have made the best decision to make the best decision for our customers, businesses and dealers in this critical market," CEO Matt Levatich Harley-Davidson said it works with all governments that can, including the Trump government to cancel the tariffs.
Company Equities Up 7 Percent on Tuesday, Driven by a Better-than-Expected Income Report
Net income in the last quarter fell from $ 258.9 million or $ 1.48 a share a year ago to 242.3 Million dollars or $ 1.45 per share. Harley estimated that Harley will earn $ 1.34 per share, according to Thomson Reuters consensus estimates.
The top-line results for the quarter also exceeded analyst estimates, but were down from the same period last year. Harley-Davidson reported $ 1.53 billion in revenue, exceeding analyst estimates of $ 1.41 billion.
Sales fell 11.3 percent in the quarter, while motorcycle sales declined 3.3 percent compared to the same quarter last year.
Harley-Davidson International motorcycle sales rose 0.7 percent in the second quarter, while retail sales in the US fell 6.4 percent.