On Tuesday, 23rd October, Harley Davidson Inc, a 115-year old Milwaukee-based company topped the estimates of Wall Street experts for the seventh straight quarter. The company maintained its 2018 shipment forecast as the sales of its classic heavy touring bikes climbed overseas.
The motorcycle company’s shares were up by 4 percent before the closing bell. The company is looking to boost its motorcycle sales in international markets as the demand in its home country fizzles due to change in needs of younger consumers and also due to an aging customer base.
The troubles for the company compounded when President Donald Trump decided to boycott the brand for its decision to move production overseas.
Harley Davidson sales in the United States fell by 13.3 percent while the sales in Europe rose by 3 percent at the same time.
In the 3rd quarter which ended on 30th September, the motorcycle makers, net income rose to $113.8 million that is 68 cents per share which is up from $68.21 million, or 40 cents per share, a year earlier.
The company’s revenue from the motorcycles and related products rose from 16.8 percent to $1.12 billion and maintained its year’s forecast with shipment between 231,000 and 236,000 motorcycles.