Harley-Davidson, Inc. first-quarter 2014 diluted earnings per share of $1.21 grew 22.2 percent from the year-ago period on higher motorcycle shipments and continued improvement in operating efficiencies. First-quarter net income was $265.9 million on consolidated revenue of $1.73 billion, compared to net income of $224.1 million in the year-ago period on consolidated revenue of $1.57 billion.
“Harley-Davidson delivered gains on many fronts in the first quarter, with shipments up 7.3 percent, strong margin improvement and solid growth in dealer new motorcycle sales,” said Keith Wandell, chairman, president and chief executive officer of Harley-Davidson, Inc. “Thanks to the great contributions of our employees, dealers and suppliers, we continue to lead at delivering exceptional customer experiences in 89 countries. Our Project Rushmore motorcycles were in high demand in the quarter, and we began shipping the Harley-Davidson Street 750 and 500 into select markets. These motorcycles, together with continuous improvement in our operations at every level, underscore the momentum we’ve established as a customer-led company.”
U.S. retail sales up 3 percent
Dealers worldwide sold 57,415 new Harley-Davidson motorcycles in the first quarter of 2014 compared to 54,254 motorcycles in the year-ago quarter. In the U.S., dealers sold 35,730 new Harley-Davidson motorcycles in the quarter, up 3.0 percent compared to sales of 34,706 motorcycles in the year-ago period. In international markets, dealers sold 21,685 new Harley-Davidson motorcycles during the first quarter, up 10.9 percent compared to 19,548 motorcycles in the year-ago period, with sales up 20.5 percent in the Asia Pacific region, 8.2 percent in the EMEA region and 8.9 percent in the Latin America region, and down 2.4 percent in Canada.
“Our dealers had a solid quarter of retail motorcycle sales. Sales in the Asia Pacific region were up strongly, and we are encouraged by the continued growth of new Harley-Davidson motorcycle sales in Europe. We’re also excited to be entering the heart of the retail selling season in the U.S., having achieved first-quarter retail growth of 3.0 percent in the midst of a long, cold winter,” said Wandell.