HOG

Harley-Davidson quarterly profit falls on slowing demand

Credit: REUTERS/CATHRIN MUELLER

Adds background, details on results in paragraphs 2-3

Feb 8 (Reuters) - Harley-Davidson HOG.N reported a 38% fall in fourth-quarter profit on Thursday, hurt by slowing demand for motorcycles in North America as consumers cut back spending on pricier leisure purchases amid sticky inflation.

The 120-year-old motorcycle maker has focused on selling fewer bikes at higher prices to boost margins, but it wasn't enough to offset a decline in bike shipments.

Harley-Davidson's sales from motorcycles and related products fell about 14% to $792 million in the quarter.

The company's net profit fell to $26 million, or 18 cents per share, from $42 million, or 28 cents per share, a year earlier.

(Reporting by Kannaki Deka in Bengaluru; Editing by Shounak Dasgupta)

((Kannaki.Deka@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.