(Reuters) – Harley-Davidson Inc reported a 60% jump in quarterly profit on Wednesday as higher shipments and strong pricing allowed the 119-year-old motorcycle maker to navigate cost inflation.
The company has ramped up production to ensure that its popular models were readily available as strong demand for leisure activities and road trips after pandemic lockdowns kept order books full.
Harley has doubled down on its production targets to make up for a two-week shutdown that suspended bike shipments in mid-May.
Last month, the company spun off its electric motorcycle division in a SPAC deal and retained a 74% stake in the newly listed firm.
Sales from motorcycles and related products rose about 24% to $1.44 billion.
Net profit rose to $261 million, or $1.78 per share, in the third quarter ended Sept. 25, from $163 million, or $1.05 per share, a year earlier.
Revenue rose 21% to about $1.65 billion.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Sriraj Kalluvila)
