Harley-Davidson Posts Lower Quarterly Profit but Raises Annual Sales Forecast

Harley-Davidson reported a decline in second‑quarter profit, posting net income of $80 million, or $0.75 per share, down from $108 million a year earlier. Revenue fell 6 % to $1.23 billion and gross margin slipped to 27.5 % due to higher raw‑material costs, an unfavorable product mix and foreign‑exchange impacts.

Despite the weaker results, the company lifted its annual global motorcycle‑retail sales outlook to 133,500‑138,500 units, up from the prior range of 130,000‑135,000. Under CEO Artie Starrs, Harley‑Davidson’s “Back to the Bricks” turnaround plan aims to attract younger riders with lighter, more affordable models priced around $10,000.

Analyst sentiment turned more optimistic: Robert W. Baird raised its price target to $30, and the consensus target on MarketBeat sits at $25.89 with a neutral rating. Shares fell roughly 1 % in pre‑market trading following the release.