Milwaukee motorcycle manufacturer Harley-Davidson reported its fourth-quarter results were below analyst expectations on Tuesday.
The quarter brought a loss of $279.3 million, or $2.44 cents per share, on revenue of $496.2 million.
“As we close out a challenging year for the company, we are taking deliberate actions to stabilize the business, restore dealer confidence and align wholesale activity with retail demand,” Artie Starrs, president and CEO of Harley-Davidson, said in a statement. “While near-term results reflect these actions, the progress we are seeing reinforces our confidence in the reset underway and our ability to rebuild Harley-Davidson’s long-term earnings and cash-flow power.”
