Harley-Davidson posts higher profit, but cuts shipment forecast

July 22 Tue Jul 22, 2014 7:21am EDT

July 22 (Reuters) - Harley-Davidson Inc reported a higher-than-expected quarterly profit on Tuesday but cut its full-year forecast for motorcycle shipments, citing weaker-than-expected retail sales.

The company posted a second-quarter profit of $354.2 million, or $1.62 a share, up from $271.7 million, or $1.21 a share, during the comparable quarter last year.

Consolidated sales, which includes revenue from its financing business, rose nearly 12 percent to $2 billion.

Analysts, on average, expected the Milwaukee-based company to report a profit per share of $1.46, according to Reuters estimates.

But Harley cut its full-year shipment forecast, citing -- in part -- poor second-quarter sales, which it said were "adversely affected by prolonged poor weather across parts of the U.S. and soft Sportster motorcycle sales." (Reporting by James B. Kelleher in Chicago,Editing by Franklin Paul)

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