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Harley-Davidson Reports Q2 2013 Results

Thu, 25 Jul 2013

Harley-Davidson reported a net profit of $271.7 million for the second quarter ended June 30, 2013, up from the profit of $247.3 million reported in the same period in 2012. For the first half of 2013, Harley-Davidson has recorded $495.9 million in profit, compared to $419.3 million reported in the opening six months last year.

Harley-Davidson again drove strong financial performance in the second quarter, reflecting the many improvements in operations we have made throughout the Company over the past few years as well as our brand strength globally,” says Keith Wandell, chairman, president and chief executive officer of Harley-Davidson, Inc. “Our employees, dealers and suppliers continue to do an outstanding job, working as one team and moving in one direction, to deliver a great experience for our customers.”

The Milwaukee-based company reported sales of 90,193 motorcycles worldwide over the second quarter, a 5.2% increase from the 85,714 motorcycles sold in the same period of 2012. The increase wasn’t enough to make up for lackluster sales in the first quarter, as first half sales of 144,447 units represent a slight decrease from 145,391 units sold in the first six months of 2012. Still, Harley-Davidson is showing signs it will recover from the slow start.

“During the second quarter, we completed our first year of seasonal surge production at York with great success. We also surpassed a milestone for international dealership growth,” Wandell said. “With the opening of a dealership in Salvador, Brazil on June 29th, we have added 104 dealerships outside the U.S. since late 2009, achieving our goal to add 100 to 150 international dealerships by the end of 2014.”

Harley-Davidson reported increased second quarter sales across all its reporting regions. American consumers purchased 58,241 Harley-Davidson motorcycles in the second quarter, up 4.4% from the 55,761 motorcycles purchased in the quarter last year. Sales were also up in Canada, Japan, Latin American and all other regions including Europe which reported sales of 14,669 motorcycles, 30 more than it did last year.

Motorcycle sales accounted for $1.27 billion in revenue, up 4.2% from $1.22 billion last year. Parts and accessories accounted for a 1.5% increase to $269.6 million. Sales of general merchandise totaled $81.7 million, a year-over-year increase of 8.7%.

For the year, Harley-Davidson expects shipments of 259,000 to 264,000 motorcycles worldwide, including between 51,000 and 56,000 motorcycles over the third quarter.

[Source: Harley-Davidson]

By Dennis Chung

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