MILWAUKEE (AP) — Harley-Davidson reported fourth-quarter profit and revenue that was worse than Wall Street expected as it shipped fewer motorcycles around the world. The company also said it expects shipments to be flat or down this year and its shares fell more than 3 percent before the stock market opened Tuesday.
Motorcycle shipments fell 12 percent to 42,414 in the fourth quarter compared with the same period a year ago. For 2017, the company expects shipments to be flat or down "modestly" compared with last year.
Revenue fell 7 percent to $933 million, which also missed Street forecasts. Eleven analysts surveyed by Zacks expected $985.7 million.
For the year, the company reported profit of $692.2 million, or $3.83 per share. Revenue was reported as $5.27 billion.
Shares of Harley-Davidson Inc. fell $1.92, or 3.3 percent, to $55.70 before the stock market opened Tuesday.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HOG at https://www.zacks.com/ap/HOG