Harley-Davidson's profit in the 4th quarter fell 17 times


Net profit of Harley-Davidson, the largest motorcycle manufacturer in the United States, fell 16.6 times in the last quarter of 2018. Quarterly revenues decreased by 6.5% to $1.15 billion, profit - to $0.5 million compared to $8.3 million in 2017. Analysts had predicted a profit of 29 cents per paper. Profit was only 17 cents per share. The difference between the forecast and the real indicator was the maximum since 2009. Net income fell to zero from 5 cents per share. The reason for the deterioration of economic indicators was the introduction of duties in the United States and response measures in other countries. The company's sales in the world fell in Q4 by 6.7%, and in the USA - by 10%. Despite the efforts of Harley-Davidson to gain popularity among young people and to launch low-end models in the market, sales figures are still rather weak. Sales in 2018 fell by 10.2% in the United States and by 6.1% in the world. The company, represented by its CEO, Matt Levatich, plans to restore the business. As part of the plan, Harley-Davidson will increase the share of overseas revenue by up to 50% by 2027 and develop models of electric motorcycles.

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