off-the-wire

UPDATE 1-Harley quarterly profit rises 37%

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds shares, details, background) April 27 (Reuters) - Harley-Davidson Inc reported a near 37% rise in quarterly profit on Thursday as higher prices for its popular models failed to dent demand.


Shares for the Milwaukee-based manufacturer were up 6.8% at $34.9 in premarket trading. The motorcycle maker implemented a series of price hikes in the past two years for its popular Trike, Cruiser and Touring models to help offset higher raw material and logistics costs in the face of rising inflation.


Sales from motorcycles and related products rose 21% to $1.56 billion


Net profit rose to $304 million, or $2.04 per share, in the first quarter, from $222.5 million, or $1.45 per share, a year earlier. (Reporting by Kannaki Deka in Bengaluru and Bianca Flowers in Chicago; Editing by Anil D'Silva)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.