Harley Cuts Profit Margin Forecast, Blames Tariffs
Harley-Davidson is one company that is not in favor of the trade war President Trump is waging.
It is also starting to make Wall Street investors unhappy.
Harley announced their quarterly results which beat expectations. The good news turned negative when it came to the yearly forecast and profit margins.
The EPS was $1.52 versus an expected $1.41 with the quarterly revenue of $1.53 billion which topped the $1.42 billion.
Once big concern is that the quarterly shipments dropped 11.3%.
The other bombshell was that HOG expects profit margins for 2018 to shrink 9%-10%.
According to the company, tariffs are the blame.
This is certainly going to get the President's ire going. Recently, President Trump and Harley had a tiff over the tariff situation. HOG recently announced the closing of a plany in Missouri to build one in the EU. Tariffs placed by the EU, according to the company, push the price of each motorcycle up $2,200,
The President replied that this was just a ploy for Harley to send jobs overseas.
HOG forcast selling between 231,000-236,000 bikes in 2018. It expects 45,000-50,500 shipments in Q3.
https://www.zerohedge.com/news/2018-07-24/harley-cuts-profit-margin-forecast-blames-tariffs
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the harley name doesn't carry the grit and toughness it used to have
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