Harley-Davidson Q2 Profit, Revenue Fall - Quick Facts

(RTTNews) - Cruiser and touring motorcycles maker Harley-Davidson, Inc. (HOG) Tuesday said its second-quarter net income dropped to $299.8 million from last year's $354.2 million. Earnings per share fell to $1.44 from $1.62 in the previous year.

On average, 19 analysts polled by Thomson Reuters expected earnings of $1.39 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue fell to $1.82 billion from $2.00 billion in the year-ago period. Motorcycles and related products revenue declined to $1.65 billion from $1.834 billion last year. Analysts expected revenues of $1.67 billion.

Harley-Davidson said quarterly results were in line with its expectations, after it decided in April to lower motorcycle shipments from initial projections for 2015 owing to currency-driven competitive pressures in the U.S. and the company's commitment to manage supply in line with demand.

In the third quarter, the company expects to ship 54,000 to 59,000 motorcycles compared to 50,670 motorcycles shipped in the year-ago period.

Harley-Davidson continues to expect to ship 276,000 to 281,000 motorcycles to dealers and distributors worldwide in 2015, 2 to 4 percent increase from 2014.