MILWAUKEE (AP) — Harley-Davidson’s first-quarter profit fell 71 percent as the company continues to deal with falling motorcycle sales.
Harley-Davidson CEO Keith Wandell said business conditions will remain challenging throughout the year.
According to the company, it earned $33.3 million, or 14 cents per share, during the three months ended March 28. That’s down from $117.3 million, or 50 cents per share, a year ago.
Excluding losses from discontinued operations, the Milwaukee company made 29 cents per share. Revenue fell 19 percent to $1.04 billion.
Analysts expected profit of 22 cents per share on $1.02 billion in revenue.