MILWAUKEE (AP) — Harley-Davidson’s fourth-quarter profit dropped from a year earlier, stung by a large restructuring expense. While its adjusted results met Wall Street’s view, revenue was pressured by lower sales in the motorcycle segment and a decline in shipments.

Shares slid 6 percent in morning trading Tuesday.

The motorcycle maker earned $495,000, or less than a penny a share, for the period ended Dec. 31. A year earlier the Milwaukee-based company earned $8.3 million, or 5 cents per share.

The latest quarter included a restructuring expense of $19.4 million. Excluding that and the impact of tariffs, earnings were 17 cents per share, in line with the estimates of analysts surveyed by Zacks Investment Research.

Motorcycle sales totaled $955.6 million. Including financial services results, total revenue was $1.15 billion. Wall Street predicted $1.05 billion in revenue.

Sales for the motorcycle segment declined in the quarter, with shipments down 7.9 percent to 43,489.

For the year, Harley-Davidson Inc. reported a profit of $531.5 million, or $3.19 per share, on revenue of $4.97 billion.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.