'Domestically, where obviously the vast majority of their business is, they missed marginally,' says James Hardiman, managing director at Wedbush Securities, who joins SquawkCNBC with his reaction to Harley Davidson's latest earnings.
's signature motorcycles continued to slide during the second quarter as profit, though better than expected, eroded nearly 20% for the struggling manufacturer.
That forecast is down considerably from its 2019 guidance given a year ago, when it said it expected to ship 231,000 to 236,000 bikes this year. Bigger bikes are falling out of favor with younger riders. Sales of the industry's largest bikes, with engines of 601 cubic centimeters or bigger, fell 4.9% in the second quarter versus a year earlier, Harley said. All but one of the"They need to see better growth with middle-aged and young people and their smaller bikes. They need to offset their 600cc-plus declines," Yarbrough told CNBC.
In another headwind, the company is preparing for the gradual increase of tariffs from the European Union. In its earnings report, Harley said it had "obtained regulatory approvals required to mitigate the majority of incremental EU tariffs."Donald TrumpThat strategy appears to be working in Southeast Asia, where it said sales rose 77% during the quarter.
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