Harley-Davidson Reports Decrease in Q3 Earnings

Harley-Davidson reported a third-quarter profit of $119.04 million, or $0.91 per share, a decline from $198.65 million, or $1.38 per share, in the same period last year, although it surpassed analysts' expectations of $0.79 per share. The company's revenue fell significantly by 32.4% to $876.41 million due to lower demand for motorcycles and fewer sales of high-margin models. In light of ongoing economic pressures, including inflation and high borrowing costs, Harley-Davidson has revised its full-year revenue forecast, now expecting a decrease of 14% to 16%, compared to a prior estimate of down 5% to 9%. The decline in motorcycle shipments has contributed to this outlook adjustment. Analysts had predicted earnings of $0.82 per share and revenues of $970.25 million prior to the earnings release, reflecting concerns over demand. The company's stock has experienced fluctuations, with recent analyst ratings indicating a cautious outlook.