Harley-Davidson Q3 Profit Decreases - Quick Facts

(RTTNews) - Harley-Davidson, Inc. (HOG) reported that its third-quarter net income decreased to $150.07 million or $0.69 per share from $162.72 million or $0.73 per share, last year. The company said its third-quarter results reflect lower motorcycle shipments, as planned, compared to last year's third quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.60 for the quarter. Analysts' estimates typically exclude special items.

Motorcycles and related products revenue was $1.13 billion, compared to $1.18 billion, previous year. Analysts expected revenue of $1.14 billion for the quarter. Dealers worldwide sold 73,217 new Harley-Davidson motorcycles in the third quarter of 2014 compared to 70,517 motorcycles in the year-ago quarter. "Harley-Davidson's third-quarter financial results were in line with our expectations, and we are on track for a year of growth and strong financial performance in 2014. We continue to see the success of our product, manufacturing and retail strategies, which are delivering an outstanding customer experience, driving bottom-line improvement and expanding the reach of the brand," said Chairman, President and CEO Keith Wandell.

Harley-Davidson continues to expect to ship 270,000 to 275,000 motorcycles to dealers and distributors worldwide in 2014, an approximate 3-1/2 percent to 5-1/2 percent increase from 2013. The company continues to expect full-year 2014 operating margin of 17.5 percent to 18.5 percent in the Motorcycles segment.