Harley-Davidson reports 32% jump in earnings per share
With strong motorcycle sales, especially in the U.S. market, Harley-Davidson today reported that its second quarter earnings per share rose 32.1%, to $1.07.
The Milwaukee-based company said income from continuing operations was $247.3 million, on consolidated revenue of $1.73 billion for the quarter, compared to income from continuing operations of $190.6 million, or $0.81 per share, on consolidated revenue of $1.51 billion in the same quarter of 2011.
Retail sales of new Harley-Davidson motorcycles grew 2.8% on a global basis compared to the prior-year quarter, which includes an increase of 4% in domestic sales.
On a worldwide basis, dealers sold 85,714 new Harley-Davidson motorcycles in the second quarter of 2012, a 2.8% increase compared to 83,396 motorcycles sold in the year-ago period.
Through the first six months of 2012, Harley-Davidson’s income from continuing operations increased 35.3% to $419.3 million, or $1.81 per share, on consolidated revenue of $3.16 billion, compared to income from continuing operations in the year-ago period of $309.8 million, or $1.31 per share, on consolidated revenue of $2.73 billion.
In the first six months of 2012, dealers sold 145,391 new Harley-Davidson motorcycles worldwide, a 9.3% increase from the year-ago period, with retail unit sales up 12% in the U.S., 16.5% in the Asia Pacific region, and 58% in the Latin America region.
The company said retail sales moderated in the second quarter due to an unusually warm early spring in the U.S., which pulled some sales forward into the first quarter.
Harley-Davidson still expects to ship 245,000 to 250,000 motorcycles to dealers and distributors worldwide in 2012, a 5% to 7% increase over 2011. The company continues to expect full-year gross margins of between 34.75% and 35.7%.
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