Harley Davidson Beats Street, Trims Growth Outlook

TheStreet

Shares of Harley Davidson declined in Tuesday's session after saying it would cut the number of bikes it was shipping to retail outlets because of a decline in expected demand. For the second quarter, the motorbike maker earned $1.62 a share, beating the analysts consensus of $1.46. Sales for the quarter were also better than what was expected. Harley almost halved the growth forecasts on its shipment plans for the second half of 2014 to only 3.5% to 5.5% from previous forecasts of 7% to 9%. U.S. motorcycle sales were down slightly but were offset by international sales which climbed slightly. Harley's CEO said the company is continuing to improve operational efficiencies. TheStreet's Whalen MacHale reports from New York.