MILWAUKEE (WTAQ) - Harley-Davidson reports a 45 percent jump in its first-quarter profits, due mainly to stronger U.S. motorcycle sales.
The Milwaukee-based company said its net income was $172 million from January through March, up from $119 million in the same period a year ago.
Earnings jumped from 51 cents a share to 74 cents – 2 cents more than what outside analysts projected. As a result, Harley’s stock rose by 3 percent in pre-market trading Wednesday morning.
On Monday, Harley confirmed an industry report that its U.S. motorcycle sales jumped by 25.5 percent from the year before. Its worldwide sales rose by just over 20 percent for the quarter.
Harley also said Wednesday morning it would ship 5,000 more bikes to its dealers than it originally projected, for a total of 245,000 to a quarter-million.
Harley CEO Keith Wandell said his company is pleased with its first quarter numbers – and it’s more focused than ever on carrying out its business strategy and tapping new global opportunities.