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Harley-Davidson posts sizable drop in fourth-quarter profit

Harley-Davidson Inc on Thursday posted a 38% decrease in its quarterly earnings amid weaker demand for motorcycles in North America as consumers pared spending on more costly items.

The motorcycle maker reported a net profit of $26 million ($0.18 per share) in the fourth quarter, down from $42 million ($0.28 per share) in the year-ago period.

Sales of motorcycles and related products shrank 14% to $792 million in the latest quarter, the company said.

To bolster margins, Harley-Davidson Inc looked to sell fewer bikes at higher prices, but it did not offset lower shipments.

Stock Performance

The shares of Harley-Davidson Inc (HOG) closed 1.11% ($0.38) higher at $34.54 in New York on Wednesday, as they extended the gain from the previous market session.

Pre-market on Thursday, the shares were up 2.11% to $35.25.

The company’s total market cap now stands at $4.81 billion.

The shares of Harley-Davidson Inc (HOG) have retreated 6.24% so far this year, following another 11.44% loss in 2023.

Analyst stock price forecast and recommendation

According to TipRanks, at least 3 out of 5 surveyed investment analysts had rated Harley-Davidson Inc’s stock as “Buy”, while 2 – as “Hold”. The median price target on the stock stands at $37.80, which translates into a 9.44% upside compared to Wednesday’s closing price. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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