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Compared to the same period of the previous year, profit was up 39% to 120.2 million dollars (101.6 million euros), the traditional US company announced Tuesday in Milwaukee. Overall, group-wide revenues fell 8% to $ 1.2 billion. In the previous quarter, there was a decline of almost 50 percent.
Businesses continued to suffer from the crown pandemic in the last quarter, but the balance sheet benefited from cost cuts and lower taxes. The data far exceeded analysts’ forecasts and was initially very well received by investors, with a share temporarily increasing by over ten percent.
However, the situation remains difficult, with motorcycle sales in the US domestic market down ten percent. Things are also bad in many places internationally. Therefore, Harley-Davidson has now announced that it will withdraw from 39 overseas markets. Going forward, business is expected to focus on North America, Europe and parts of Asia.
Due to the high level of uncertainty about the Crown, Harley-Davidson does not yet provide a forecast for the current financial year. The company had due to the president of the United States Donald Trump Customs disputes initiated with important trading partners even before the start of the pandemic. Harley-Davidson has long suffered from an outdated image and little interest from younger customers.
Harley-Davidson stock eventually gained 22.07% sometimes on the NYSE at $ 35.40.
/ hbr / DP / jha
MILWAUKEE (dpa-AFX)
Learn more about Harley-Davidson Inc.
Image sources: ABG / Shutterstock.com
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