Harley posts lower profit on supply chaos, rising costs

Harley posts lower profit on supply chaos, rising costs
FILE PHOTO: Harley Davidson motorcycles are displayed for sale at a showroom in London, Britain, June 22 2018. REUTERS/Henry Nicholls

Harley-Davidson Inc posted a drop in quarterly profit on Wednesday, as demand for its motorcycles failed to gain momentum due to challenges posed by global supply-chain hurdles and surging inflation.

Net profit was $223 million, or $1.45 per share, in the first quarter, compared with $259 million, or $1.68 per share, a year earlier.

Source: Reuters