Harley 2nd Quarter Earnings Down 19%
Motorcycle maker says it expects $100 million in tariff costs for entire year.
Harley-Davidson says sales fell in the second quarter of 2019. The Milwaukee-based motorcycle maker reported second-quarter earnings of $195.6 million dollars, down 19 percent from the same quarter last year.
The company said sales in the United States and developed international markets were down year to year.
Executives said in a Tuesday morning conference call that they had expected 2019 to be challenging, but that the company is looking to address current concerns while also building toward future growth.
He said the all-electric LiveWire motorcycle, which is now in production, is part of a strategy to offer “more accessible products from a physical power performance perspective as well as a price perspective, to continue to leverage EV (electric vehicles) as a pathway into the sport.”
Harley-Davidson officials also expect to see fewer costs related to tariffs next year.
Chief Financial Officer John Olin said Harley-Davidson expects to see $100 million in tariff costs for this year, from the European Union and China.
But he said the tariff picture will be different next year, after the company received approval from European authorities to sell motorcycles shipped from its facilities in Thailand to Europe.
“We will start realizing the tariff benefits in Europe, which is certainly the lion’s share of the $100 million, probably $90 (million) of the $100 million, will start being realized in the second quarter,” he said. “Overall, the vast majority of the $100 million will be reduced in 2020.”
Harley-Davidson Reports Q2 Sales Drop, Increasing Ridership was originally published by Wisconsin Public Radio.
More about the Trump Tariffs
- Evers Blasts Trump “Tweet” Trade Wars - Erik Gunn - Sep 16th, 2019
- Donald Trump’s Administration Laughs in the Face of Struggling Farmers - Democratic Party of Wisconsin - Aug 13th, 2019
- Gov. Evers Calls on President Trump to Listen to Farmers, End Unproductive Trade Wars - Gov. Tony Evers - Aug 12th, 2019
- Harley 2nd Quarter Earnings Down 19% - Brady Carlson - Jul 24th, 2019
- State’s Exports Down in 2019 - Hope Kirwan - Jul 23rd, 2019
- Data Wonk: Democrats Now The Free Trade Party? - Bruce Thompson - Jun 26th, 2019
- Murphy’s Law: Trump Tariffs Killing Wisconsin - Bruce Murphy - Jun 4th, 2019
- Data Wonk: How Walker, Trump Hurt Dairy Industry - Bruce Thompson - Mar 13th, 2019
- Ron Johnson Calls for Ending Tariffs - Hope Kirwan - Feb 8th, 2019
- Harley-Davidson Earnings Down - Patty Murray - Jan 31st, 2019
- Tariffs Affecting Great Lakes Ports - Danielle Kaeding - Jan 5th, 2019
- Trump Tariffs Hurt Milwaukee Port - Danielle Kaeding - Sep 4th, 2018
- Harley Riders Oppose Boycott of Company - Laurel White - Sep 3rd, 2018
- Answer the Question, Scott Walker - One Wisconsin Now - Aug 13th, 2018
- Trump’s Aid to Farms Gets Mixed Reviews - Rich Kremer - Jul 26th, 2018
- Voters Unhappy About Tariffs, State Roads - Chuck Quirmbach - Jul 19th, 2018
- Businesses Complain About Trump Tariffs to Johnson - Chuck Quirmbach - Jul 17th, 2018
- Canada’s Tariffs Target Wisconsin - Scott Gordon - Jul 16th, 2018
- Data Wonk: How Trump Threatens State’s Exports - Bruce Thompson - Jul 5th, 2018
- Walker Avoids Harley Issue at Parades - Chuck Quirmbach - Jul 5th, 2018
- Campaign Cash: Harley Gave Generously to Republicans - Wisconsin Democracy Campaign - Jun 26th, 2018
- Harley-Davidson Job Losses: Walker Owns This - Democratic Party of Wisconsin - Jun 26th, 2018
- Scott Walker Flies While Harley Davidson Flees - One Wisconsin Now - Jun 26th, 2018
- Op Ed: Trump Dead Wrong on Canadian Trade - John Torinus - Jun 21st, 2018
- Op Ed: Trump’s Tariffs Hurt Wisconsin Economy - John Torinus - Jun 11th, 2018
- Trump Tariffs Threaten State’s Exports - Steven Deller, Tessa Conroy and Matthew Kures - May 13th, 2018
- Op Ed: Trump Tariffs Will Harm Trump Country - John Torinus - Mar 14th, 2018
- Statement Regarding Governor Walker’s Phone Call with U.S. Department of Commerce Secretary Wilbur Ross - Gov. Scott Walker - Mar 9th, 2018
- Op Ed: Ryan Finally Stands Up to Trump - Gregory Humphrey - Mar 8th, 2018
- Governor Walker Visits Wisconsin Employers in Oshkosh, Janesville that Have Expressed Concern with President Trump’s Proposed Tariffs on Steel and Aluminum - Gov. Scott Walker - Mar 6th, 2018
- Governor Walker Releases Statement on the Trump Administration’s Proposed Steel and Aluminum Tariffs - Gov. Scott Walker - Mar 2nd, 2018
- Norquist: Trump Tariffs Will Hurt State Workers - John Norquist - Feb 2nd, 2017