Iconic motorcycle maker Harley-Davidson Inc reported a 25.6 percent fall in quarterly profit, hurt by a drop in shipments.
The Milwaukee-based company's net income fell to $186.37 million, $1.05 per share, in the first quarter ended March 26, from $250.49 million, or $1.36 per share, a year earlier.
Revenue from motorcycles and related products fell 15.7 percent to $1.33 billion.
Harley said it continues to expect full-year shipments to be flat to down modestly.
The decline in the U.S. was mostly behind the weaker-than-expected results for the iconic manufacturer, as the home market forms roughly two-thirds of the net shipments for the company.
As per analyst, Company’s first quarter shipments were helped by warmer-than-usual weather that led to an early start to the annual riding season, probably resulting in a pull-forward in demand from the second quarter.
In order to grow its business now, Harley is looking for growth in international markets by increasing its reach to the outreach segment.
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