Harley Raises Outlook, Cites Strong Demand
The iconic motorcycle manufacturer Harley-Davidson said on Monday (April 19) that strong retail demand, reduced dealer inventories and fewer loan write-offs drove better-than-expected first-quarter results, as well as an increased forecast for the year.
According to a press statement, the Milwaukee-based company said its revenues rose 10 percent to $1.2 billion, led by a 12 percent increase in its core business amid strong retail demand for touring motorcycles for the three months ending March 28.
At the same time, the company said its earnings more than tripled from a year ago, as its profit margins rebounded sharply and its financial services division set aside less money for expected loan losses.
“We can see the initial signs of consumer excitement and optimism returning and I am confident that Harley-Davidson in 2021 is a significantly leaner, faster and more