Harley-Davidson Third Quarter 2010 Results. Some Progress.

This morning at 7am EST before market opening, Harley-Davidson reported its third-quarter 2010 results. Harley-Davidson President and Chief Executive Officer Keith Wandell stated “With our strategic focus on future growth initiatives and continuous improvement, we are positioning Harley-Davidson to succeed at today’s volumes, as well as to grow and restore greater profitability longer term.

Income and Earnings: $93.7 million, or $0.40 per share, compared to income of $56.4 million and earnings per share of $0.24 from continuing operations in the year-ago quarter.

Retail Sales: Third-quarter retail sales of new Harley-Davidson® motorcycles decreased 7.7 percent worldwide, 9.4 percent in the U.S. and 3.6 percent in international markets compared to the year-ago period. Industry-wide U.S. heavyweight motorcycle (651cc-plus) retail unit sales decreased 14.4 percent in the third quarter compared to the year-ago period. Keith Wandell added that “Since 2008, we also have been the U.S. leader in new motorcycle sales to young adults for the entire on-road motorcycle category. Going forward, we will continue to build on this brand strength and leadership position.”

Revenue From Motorcycle Sales: Revenue from Harley-Davidson motorcycles in the third quarter of 2010 was $798.8 million, down 0.6 percent compared to the year-ago period. The Company shipped 53,293 Harley-Davidson motorcycles to dealers and distributors worldwide during the quarter, compared to shipments of 54,236 motorcycles in the third quarter of 2009.

Revenue From Parts & Accessories: Totaled $219.0 million during the quarter, down 1.2  percent, and revenue from General Merchandise, which includes MotorClothes® apparel, was $64.1 million, down 9.4 percent compared to the year-ago period.

Guidance: The Company is narrowing its guidance for full-year 2010 shipments and now expects to ship 207,000 to 212,000 Harley-Davidson motorcycles to dealers, a decrease of approximately five to seven percent from 2009. Prior shipments guidance was 201,000 to 212,000 motorcycles.

Restructuring: Harley-Davidson now expects savings in 2010 of $150 million to $165 million from restructuring activities and continues to expect annual ongoing savings of $290 million to $310 million beginning in 2013 upon completion of the restructuring activities.

11 Responses to “Harley-Davidson Third Quarter 2010 Results. Some Progress.”

  1. 1 doc Oct 19th, 2010 at 8:12 am

    Premarket not impressed. Down .97%

  2. 2 doc Oct 19th, 2010 at 9:09 am

    retail sales down 7.7%. recession/depression not over?

  3. 3 fuji Oct 19th, 2010 at 11:35 am

    Rest easy. We can give the “Analyst” and the rumors of another “buyout” a short break until the 4 th Qtr pre report.

  4. 4 J Oct 19th, 2010 at 1:06 pm

    Way to go Keith! Revenue across the board down again, and you’re trying to put a positive spin on your “growth initiatives”- BUWHAHAAHAHAH!

    Doesn’t take a rocket scientist to see that you’re trying to squeeze out short-term earnings by cutting expenses- umm, give us one example in the history of business where this strategy has enhanced “growth initiatives”…..

    And BTW- what- EXACTLY- do you mean by “continuous improvement”? Could you be any more vague? Seriously, this is a crap statement- pathetic that a CEO can produce something with so little substance and yet no one questions his capacity to lead this company.

    Have the Board award you some more options, Keith- FINE job!

  5. 5 fuji Oct 19th, 2010 at 1:43 pm

    Discretion over Vanity purchases has taken a grip on what so many have enjoyed in the last ten years. For most of us we will be able to sit back and tell old stories of how crazy the ride was.

    Proclaimed in the next ten years as ” The good old days “.

    I took the time to stop at Limpnickie in Daytona last week and what came to mind was “the good old days” as I remember . This group is spot on and for everyone, within budget .

    The slathering of chrome and the masking of paint is secondary. With all the used bikes on the market, creativity is within everyone’s reach within the trend.

    My point. If this is the trend then “new purchases ” will wane.

  6. 6 bajerry Oct 20th, 2010 at 8:31 pm

    The Republicans ran the show into the ground with help from Bush and co. this is the results, And they want to do the same thing to us again. Limpnickie has the right idea, just like we did 40 years ago, take advantage of the AMA’ers looseing intrest, old cop bikes, police departments buying foreigh made bikes, prices were in the tank then on Harleys, so we bought them cheap and chopped them. Do you think the Republicans will bail out H-D like Reagan did? Or Obama like he did GM? I’m glad I am turn 62 so I can collect what is left of SS, after the Republicans get through with it there might not be any left. When are we going to relize that the Republicans talk a good line of shit and the turn on us for China or who else will put money in their pockets. Untill the CEO’s take a cut in pay for outsourcing jobs, buying foreigh parts for “American Made” products ain’t nothing going to change. Ronnie Rayguns and crew thanks a lot..

  7. 7 J Oct 21st, 2010 at 3:31 pm

    LOL- thanks, bajerry- you just illustrated what the problem is, actually; Lack of education, lack of information, and a sense of entitlement.

    I’m not even gonna ask how you think Reagan “bailed out” HD, but a little clue? Reagan WAS a Republican…. Sorry to hear you suffered so much while Reagan was in charge, tho- everyone else enjoyed the most prosperous time in our lives, but hey- your results may vary.

    Enjoy the SS that I’m paying for, dude….. 62 is too young to collect a free check for sitting on your ass, but I’m a Capitalist, not a Socialist…..

  8. 8 bajerry Oct 21st, 2010 at 4:24 pm

    Man do I love fxxxxxg with repuks, they just can’t take the truth, especially about “Deficets don’t matter” Reagan, the asshole that started it all.

  9. 9 Sickboy Oct 25th, 2010 at 12:32 pm

    Hey Bajerry, Do you Obama lovers have anything else besides Bush’s fault ? Now get back to sitting on your lazy welfare ass !

  10. 10 mike corbin Oct 25th, 2010 at 12:49 pm

    Keep working at it HD, we all need you..

  11. 11 Michelle Nov 3rd, 2010 at 6:46 pm

    Reagan did bail out HD, that is fact. i don’t think he would have agreed totally with the Tea Party.
    He felt gov did have a role in America.

    It will be interesting to see if WI Senator-elect John
    son does anything for HD.

    He ran against bailouts even though he took gov$ i would be weary investing in HD, most of the biggies need help from time to time.

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Cyril Huze