Harley-Davidson releases second quarter earnings, drop in U.S. sales
(CBS 58) – Harley-Davidson released its second quarter earnings early Tuesday morning.
According to the Milwaukee based company, it saw a drop in U.S. sales in the second quarter. The motorcycle maker says the drop is due to lower shipments as demand for its bikes go down.
The company reported U.S. retail sales were down 6.4% but international sales were up 0.7%. Worldwide sales decreased 3.6%.
Company profits also topped Wall Street expectations.
Leaders from the company held a conference call Tuesday morning discussing the report.
"We will continue to be disciplined in our management of motorcycle supply, drive premium value for our riders, dealers and our brand, amplify our cost management efforts and relentlessly focus on our long term objectives," Harley Davidson senior vice president and CFO John Olin said.
Harley-Davidson says it expects to ship 231,000-236,000 motorcycles in the year ahead. On Monday, the company is expected to announce plans for an accelerated strategy to grow ridership across the globe.