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Harley-Davidson fiscal Q2 profit falls YOY

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Harley-Davidson fiscal Q2 profit falls YOY

Harley-Davidson Inc. said its normalized net income for the fiscal second quarter ended June 25 amounted to $1.41 per share, compared with the S&P Capital IQ consensus estimate of $1.38 per share.

In the prior-year period, the per-share result came in at a profit of $1.40.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $246.5 million, a decline from $253.7 million in the prior-year period.

The normalized profit margin increased to 14.0% from 13.6% in the year-earlier period.

Total revenue fell 5.2% on an annual basis to $1.77 billion from $1.86 billion, and total operating expenses decreased 5.9% from the prior-year period to $1.36 billion from $1.45 billion.

Reported net income decreased 7.7% on an annual basis to $259.5 million, or $1.48 per share, from $281.1 million, or $1.55 per share.