SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Sold at a loss for Harley-Davidson – forecast lowered

» Published: 24 October 2024

Sold at a loss for Harley-Davidson – forecast lowered
Photo: ANN HEISENFELT AP/TT

Profit decline and fewer sold motorcycles characterized Harley-Davidson's third quarter. Margins are being squeezed as demand for the most expensive motorcycles is decreasing.

Harley-Davidson reports a profit per share of 91 cents for the third quarter, down from $1.38 per share for the corresponding quarter a year earlier.

Revenues fell to $1.15 billion, which can be compared to an average forecast among analysts of $1.25 billion according to Bloomberg.

The number of delivered motorcycles during the quarter fell 39 percent to 27,500 units, which can be compared to an average forecast of 32,717.

The forecast for 2024 is being lowered to 14-16 percent lower revenues than 2023 and an operating margin of 7.5-8.5 percent.

In the previous forecast, Harley-Davidson expected sales revenues to decline by 5-9 percent this year and the margin to end up at 10.6-11.6 percent.

The Harley-Davidson share, which has so far this year fallen by 7 percent, falls a further 1.6 percent in futures trading ahead of Thursday's trading start on Wall Street.

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Samsung's surprise message boosts Asian stock exchanges
1 MIN READ

Samsung's surprise message boosts Asian stock exchanges

Small savers are leaving the Swedish stock exchange – this is where they're going
3 MIN READ

Small savers are leaving the Swedish stock exchange – this is where they're going

The Speaker wants to calculate the cost of Trump's tax cuts
1 MIN READ

The Speaker wants to calculate the cost of Trump's tax cuts

Ikea in Finland stands firm on criticized decision
1 MIN READ

Ikea in Finland stands firm on criticized decision

Beware of Ghost Jobs
3 MIN READ

Beware of Ghost Jobs

Ukraine wants to de-Russify its currency
1 MIN READ

Ukraine wants to de-Russify its currency

Oatly at New Low
1 MIN READ

Oatly at New Low

Record valuation for Tiktok's owner
1 MIN READ

Record valuation for Tiktok's owner

The enormous fall risk for the AI boom's giant
3 MIN READ

The enormous fall risk for the AI boom's giant

The Swedish Transport Administration: Looks Better Than in a Long Time
2 MIN READ

The Swedish Transport Administration: Looks Better Than in a Long Time

This is how SJ will avoid a new winter of chaos
3 MIN READ

This is how SJ will avoid a new winter of chaos

Danish medicine giant stumbles – stock market in the red
1 MIN READ

Danish medicine giant stumbles – stock market in the red

Swish up and running again – problems solved
1 MIN READ

Swish up and running again – problems solved

High electricity prices blown away
2 MIN READ

High electricity prices blown away

New experiences to save future stores
4 MIN READ

New experiences to save future stores

Setback for Tesla - Supreme Court Rejects Appeal
1 MIN READ

Setback for Tesla - Supreme Court Rejects Appeal

Norwegian Billionaire Dead – Owned Shopping Centers in Sweden
2 MIN READ

Norwegian Billionaire Dead – Owned Shopping Centers in Sweden

The new owner of Bilprovningen embroiled in breast implant scandal
2 MIN READ

The new owner of Bilprovningen embroiled in breast implant scandal

Elon Musk Sues Microsoft
1 MIN READ

Elon Musk Sues Microsoft

Tesla seizure broke the dream limit for the Enforcement Authority
2 MIN READ

Tesla seizure broke the dream limit for the Enforcement Authority