Harley-Davidson Inc. failed to meet expectations for Q3 2015 and shares at the iconic motorcycle manufacturer slipped by more than 1 percent.
The Milwaukee-based company reported lower quarterly net profit on news that global sales of new motorcycle’s stalled.
Harley-Davidson reported a net income of $140.3 million, down nearly 6.5 percent from $150.1 million a year earlier.
Diluted earnings per share were 69 cents per share in the third quarter the same a year earlier.
Analysts estimated earnings per share for the quarter of 78 cents per share.
A decline in motorcycle sales arrives at a time when the automobile industry is experiencing a steep increase in sales.