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Harley-Davidson Q1 2019 results

Chairman Donald Trump seemed to turn the course at Harley Davidson on Tuesday and promised to refute itself against "unfair" EU fees which the company partially considered for its nearly 27% reduction in profit for the first quarter. TWEET Harley announced plans last year to move the production of his motorcycles destined for the EU to foreign US plants to avoid EU charges imposed in the defamation of Trump's mission of importing aluminum and steel. In response to this, Trump demanded a boycott of the company and threatened higher taxes as retaliation. The White House and Harley did not respond immediately to the request for comments on Tuesday. The company holds a conference call with analysts and the press at 9.00 ET. On Tuesday, Harley said falling demand, higher US commodity tariffs and European motorcycle import taxes damaged their revenues. Here's how the company compared to what Wall Street expected: Adjusted earnings: 98 cents per share vs. 65 cents per share projected in an analysis by Refinitiv analysts. Revenue: $ 1.19 billion compared to $ 1.19 billion forecast by Refinitiv. Harley said net sales for the first quarter amounted to $ 127.9 million for consolidated revenue of $ 1.38 billion, compared to $ 174.8 million for consolidated revenue of $ 1.54 billion in 2018, down 26, 8%. Revenues from motorcycles and related products fell 12.3 percent from the previous year to $ 1.19 billion. Excluding the impact of customs and restructuring costs, the company said its net income fell to…

Chairman Donald Trump seemed to turn the course at Harley Davidson on Tuesday and promised to refute itself against “unfair” EU fees which the company partially considered for its nearly 27% reduction in profit for the first quarter.

TWEET

Harley announced plans last year to move the production of his motorcycles destined for the EU to foreign US plants to avoid EU charges imposed in the defamation of Trump’s mission of importing aluminum and steel. In response to this, Trump demanded a boycott of the company and threatened higher taxes as retaliation.

The White House and Harley did not respond immediately to the request for comments on Tuesday. The company holds a conference call with analysts and the press at 9.00 ET.

On Tuesday, Harley said falling demand, higher US commodity tariffs and European motorcycle import taxes damaged their revenues.

Here’s how the company compared to what Wall Street expected:

  • Adjusted earnings: 98 cents per share vs. 65 cents per share projected in an analysis by Refinitiv analysts.
  • Revenue: $ 1.19 billion compared to $ 1.19 billion forecast by Refinitiv.

Harley said net sales for the first quarter amounted to $ 127.9 million for consolidated revenue of $ 1.38 billion, compared to $ 174.8 million for consolidated revenue of $ 1.54 billion in 2018, down 26, 8%.

Revenues from motorcycles and related products fell 12.3 percent from the previous year to $ 1.19 billion.

Excluding the impact of customs and restructuring costs, the company said its net income fell to $ 127.9 million or 80 cents per share, in the first quarter ended March 31, from $ 174.76 million, or $ 1.03 per share, one years before.

Its shares increased by 0.7 percent in premarket trading.

Harley has struggled with a reduction in sales in the US among fears that younger buyers are less interested in major motorcycles than previous generations. Last quarter, the company’s shares refueled after it released profits that missed analysts’ expectations.

The company has tried to get more people happy to ride motorcycles again. In November, it began previewing its LiveWire electric motorcycle in the US and Europe in an effort to attract more riders in total, including younger ones.

Harley also presented a 10-year plan in 2017 to attract 2 million new riders in 2027. In addition to investing in electric bicycles, it has built schools across the country to teach people how to ride.

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