The numbers are good news for Zeitz, who also plans to invest more in electrification. Harley expects revenue in its motorcycles segment to grow 30% to 35% this year, up from a previous forecast of 20% to 25%, mainly due to a strong recovery in North America. European deliveries fell 59%, mired by pandemic lockdowns, shipping delays and the discontinuation of sales of two models there - the Street and the Sportster. Retail sales jumped 30% in North America in the first quarter and 9% globally, the company said. “The actions we have taken to reshape the business are having a positive impact on our results, especially for our most important North American region.” “We can see the initial signs of consumer excitement and optimism returning,” Zeitz said in a statement. market, powered earnings in the first quarter, the company said.
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Those cost cuts, combined with a revival of demand in its core U.S. Harley generated adjusted earnings of $1.68 a share in the first three months, almost twice as much as analysts had expected, it said Monday in a statement.Ĭhief Executive Officer Jochen Zeitz, who took the helm of the troubled manufacturer last February, has slashed costs and trimmed the product portfolio, and he’s investing more in Harley’s core heavyweight-bike segment.
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Shares of the Milwaukee-based motorcycle maker soared 11% to $44.88 at 11:06 a.m in New York. reported better-than-expected first-quarter profit and raised a key sales outlook for the year, offsetting the disclosure that it’s facing a potentially damaging tariff fight with the European Union.