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Harley-Davidson swings to quarterly loss

28 July 2020 - 14:52 By Reuters
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Harley-Davidson Inc reported a loss of 60c per share for the quarter through June, compared with a profit of $1.23 per share a year ago.
Harley-Davidson Inc reported a loss of 60c per share for the quarter through June, compared with a profit of $1.23 per share a year ago.
Image: David Paul Morris/Bloomberg via Getty Images

Harley-Davidson Inc unexpectedly swung to a loss in the second quarter as coronavirus shutdowns hit motorcycle sales.

The company on Tuesday reported a loss of 60c per share for the quarter through June, compared with a profit of $1.23 per share a year ago. Analysts had on average expected the profit to come in at 4c per share, according to IBES data from Refinitiv.

Motorcycles and related products revenue dived 53% year-on-year to $669m(roughly R11,091,150,300).

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