July 22 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
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