Harley-Davidson lowered its revenue forecast for 2024 as stubborn inflation, high interest rates and consumer blowback from a DEI controversy impacted the motorcycle maker's sales.

The company said on Thursday it now expects full-year global shipments to be down 16% to 17%, compared with its prior forecast of down 7% to 10%. Harley also forecast annual retail sales to be down 6% to 8%. Previously it expected sales to be flat to up 3%.

Harley-Davidson Inc.’s stock fell 2% early Thursday, after the iconic motorbike maker topped estimates for the third quarter despite steep declines in profit and revenue, but lowered its full-year guidance to reflect a still-struggling consumer.

(Reuters) -Harley-Davidson lowered its revenue forecast for the year as sticky inflation and high borrowing costs hurt demand for motorcycles in North America, sending the company's shares down 3.3% before the bell on Thursday.

And welcome to the Harley-Davidson 2024 third-quarter investor and analyst conference call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Shawn Collins.

Harley-Davidson Inc.’s motorcycle shipments fell in the latest quarter on lower demand for its high-margin bikes, prompting a downward revision in its full-year forecast.