H-D 3Q Earnings Up Nearly 16%
Harley-Davidson Inc. net income for the third quarter ended September 25, 2005, was $265 million, or 96 cents a share, up from $229 million, or 77 cents a share, for the third quarter 2004. Net sales were $1.43 billion, up 10% from $1.3 billion during the same period in 2004.
Third quarter revenue from Harley-Davidson motorcycles was $1.11 billion, an increase of $113.6 million or 11.4% over last year. Worldwide wholesale shipments of Harley-Davidson motorcycles in the third quarter totaled 87,585 units, up 8.7% from the year-ago period. On a year-to-date basis, Harley-Davidson motorcycle sales were up 5.0% in the U.S., 19.3% in Europe, and 11.4% in Japan.
Third quarter revenue from Parts & Accessories (P&A), which consists of Genuine Motor Parts and Genuine Motor Accessories, totaled $231.2 million, up 3% from P&A sales during the same quarter 2004. Third quarter revenue from General Merchandise, which consists of MotorClothes apparel and collectibles, totaled $64.5 million, up 5.1%.
For the nine months ended Sept. 25, net income was $729.6 million, or $2.57 per share, compared with $680.8 million, or $2.29 per share, for the same period a year ago. Net sales grew to $4 billion from $3.8 billion.
Harley-Davidson shipped a total of 241,429 motorcycles during the first nine months of the year, a 2% increase compared to last year’s 236,702 units. Motorcycle revenue for the nine-month period was $3.10 billion, up 5.4% from revenue of $2.94 billion for the same period in 2004. P&A revenue totaled $645.8 million, up 3.5% from $623.7 million in 2004. General Merchandise revenue totaled $187.4 million, up 11%.
The Milwaukee-based company’s 2005 shipment target remains at 329,000 units. It forecasts a shipment of 348,000 to 352,000 motorcycles next year.
