Harley-Davidson, Inc. Consumer Goods | Recreational Vehicles | USA Harley-Davidson, Inc. primarily manufactures and sells cruiser and touring motorcycles. The company operates through two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services. It offers motorcycle parts and accessories, such as replacement parts, and mechanical and cosmetic accessories; general merchandise, including MotorClothes apparel and riding gears; and various services to its independent dealers comprising motorcycle services, business management training programs, and customized dealer software packages. This segment also licenses the Harley-Davidson name and other trademarks. It sells its products to retail customers through a network of independent dealers, as well as ecommerce channels in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific. The Financial Services segment provides wholesale and retail financing services; and insurance and insurance-related programs primarily to Harley-Davidson dealers and retail customers in the United States and Canada. This segment offers wholesale financial services, such as floorplan and open account financing of motorcycles, and motorcycle parts and accessories; and retail financing services, including installment lending for the purchase of new and used Harley-Davidson motorcycles. It also operates as an agent providing point-of-sale protection products, including motorcycle insurance, extended service contracts, credit protection, and motorcycle maintenance protection. Harley-Davidson, Inc. was founded in 1903 and is based in Milwaukee, Wisconsin.
Lower sales of new motorcycles ding Harley-Davidson MILWAUKEE (AP) -- Shares in Harley-Davidson tumbled nearly 10 percent after the company reported lagging retail sales and shipments as new riders opted for used motorcycles over newer, more expensive ones. The company lowered its guidance for motorcycle shipments in 2017 by about 6 to 8 percent as retail sales of Harley-Davidson motorcycles fell 9.3 percent in the U.S. and 6.7 percent globally from the same quarter last year. Motorcycle shipments for the second quarter fell 7.2 percent from last year's second quarter. The company said it is strategizing how to better balance sales of new and used motorcycles as the industry tries to attract millennials and other young adult riders. "Plenty of millennials ride motorcycles," said President and CEO Matthew Levatich. "A lot of the data that is easy to get is new motorcycle sales, but if you look at that used market place, there are plenty of millennials that are riding, and it's up to us to inspire even more them to ride and to engage with Harley-Davidson's products and experiences and the strategy that we had laid out." Harley-Davidson on Tuesday reported second-quarter earnings of $258.9 million, which beat Wall Street expectations but came in lower than the $280.4 million for the second quarter last year. The Milwaukee-based company said it had net income of $1.48 per share, in part due to lower costs. That also topped expectations, but fell short of the $1.55 per share for the same period last year. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share. The motorcycle maker posted revenue of $1.58 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $1.6 billion. The company had revenue of $1.67 billion in the same period last year. Harley-Davidson shares have declined about 20 percent since the beginning of the year and about 4 percent in the last 12 months.
