Harley posts lower profit on supply chaos, rising costs -Breaking
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© Reuters. FILE PHOTO – Harley Davidson motorcycles were on display in a London showroom from June 22 2018, Britain. REUTERS/Henry Nicholls(Reuters] – Harley-Davidson Inc. (NYSE) suffered a loss of profit in the first quarter on Wednesday. This was due to a lackluster demand.
The 119-year old company has faced rising raw material and logistic costs. It now anticipates that higher input costs will continue throughout the year.
The sales of motorcycles and similar products increased by 6% to $1.30 trillion
The net profit in the first quarter was $223 million or $1.45 per shares, as compared to $259 million or $1.68 a share a year prior.
Revenues rose to approximately $1.50 Billion, or 5%.
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