MILWAUKEE (October 23, 2012) - Harley-Davidson, Inc. (NYSE: HOG) reported earnings per share of $0.59 for the third quarter of 2012, in line with Company expectations. Earnings were lower than the year-ago period due to a previously announced plan for lower third-quarter motorcycle shipments during the launch of an ERP production system at the Company’s largest assembly plant. For the full year 2012, Harley-Davidson continues to forecast a five-to seven-percent increase in motorcycle shipments compared to 2011.
“The third quarter marked a pivotal milestone in Harley-Davidson’s transformation. With the launch of the ERP production system at York, a major piece of our restructuring work is behind us. We are now focused on optimizing the system and look forward to the start of seasonal surge production early next year,” said Keith Wandell, Chairman, President and Chief Executive Officer.
Retail Harley-Davidson Sales
Through nine months, retail sales of new Harley-Davidson motorcycles grew 6.0 percent overall, 6.2 percent in the U.S. and 5.4 percent internationally compared to the year-ago period. In the third quarter, retail sales of new Harley-Davidson motorcycles decreased 1.3 percent worldwide compared to the prior-year period, with unit sales down 5.2 percent in the U.S. and up 7.6 percent in international markets.
“We believe our U.S. dealers’ third-quarter new motorcycle sales were adversely affected by a limited availability of new motorcycles in July, August and early September resulting from the ERP implementation at York combined with the move of Harley-Davidson’s annual new model launch to late August from late July. As U.S. dealer inventory returned and the 2013 motorcycles became more available, retail sales responded positively as we exited the quarter,” Wandell said.
Through nine months, new Harley-Davidson motorcycles retail sales are up 47.5 percent in the Latin America region, 14.1 percent in the Asia Pacific region and 6.0 percent in North America compared to the year-ago period.
Industry-wide U.S. heavyweight new motorcycle (651cc-plus) retail unit sales increased 3.8 percent through nine months of 2012 compared to the prior-year period.
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Harley-Davidson Motor Company produces heavyweight custom, cruiser and touring motorcycles and offers a complete line of Harley-Davidson motorcycle parts, accessories, riding gear and apparel, and general merchandise. For more information, visit Harley-Davidson's Web site at www.harley-davidson.com.