Harley-Davidson Stock & and revenue both hit the skids in the first quarter of 2017
Harley-Davidson motorcycles Incorporated just reported their first-quarter earnings for 2017. Unfortunately, it looks like Harley-Davidson is a pretty big speedbump in its revenues and stock price.
Yes, the first quarter revenue for Harley-Davidsonfell by 14% as a motorcycle icon’s retail sales were soft in both the USA and abroad. Yesterday, Harley-Davidson shares on the New York Stock Exchange also fell, by approximately 4% to $57.07. The earnings per share for Harley tumbled on a year-over-year comparison, by 23%.Harley-Davidson motorcycles Incorporated blamed a lot of this revenue loss on sluggish sales of 2016 models.Harley’s retail motorcycle sales in the US fell by 5.7%. Harley’s international motorcycle sales fell by 1.8% and the Asia-Pacific region saw a 9.3% drop in sales.tthe only bright spot for Harley-Davidson motorcycle sales was in Latin America, where they saw a jump of 24.2%!
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Harley is predicting that full-year sales for 2017 will be flat to modestly down when compared to 2016. The company also said that is offering its dealers incentives to help move the left over 2016 motorcycle inventory.
It also seems that Harley is betting big on its Rider Academy program to boost its rider base and naturally increase sales. This is a rider training program run by Harley-Davidson dealers. for the first quarter of 2017,the company reported that it had trained 8800 students in this program. Compared to the first quarter of last year, the number of students increased by 10%.
Also, to broaden its ridership base Harley has taken specific aim at attracting younger riders, women, African-Americans and Hispanics.
Harley’s chief executive Matt Levatich said the new-rider goal was ambitious yet achievable. “We don’t think it’ll be easy and we don’t expect the results will be linear,” he said.
Harley-Davidson motorcycles Incorporated just reported their first-quarter earnings for 2017. Unfortunately, it looks like Harley-Davidson is a pretty big speedbump in its revenues and stock price.
