By Kosaku Narioka
Honda Motor Co. reported its fourth-quarter results on Friday. Here’s what you need to know.
NET PROFIT: Honda’s net profit fell 41% from a year earlier to 124.90 billion yen ($973.3 million) for the quarter ended March 31. That beat the estimate of Y110.49 billion from a poll of analysts by S&P Global Market Intelligence.
REVENUE: Fourth-quarter revenue increased 7.0% to Y3.876 trillion. That fell short of the estimate of Y3.904 trillion in the S&P Global Market Intelligence poll.
WHAT WE WATCHED:
–REGIONS: Operating profit for North America fell to Y87.00 billion in its fourth quarter from Y186.65 billion a year earlier, weighing on the company’s bottom line. Meanwhile, operating profit for Asia excluding Japan rose to Y106.88 billion from Y81.82 billion and losses narrowed for Japan operations.
–AVIATION: Its aircraft and aircraft-engine business posted an operating loss of Y33.7 billion for the fiscal year ended March, compared with the company’s total operating profit of Y871.23 billion.
–SALES OUTLOOK: Honda expects group car sales to rise to 4.2 million units for the fiscal year started in April, up from 4.1 million units sold in the previous fiscal year. It projects car sales in North America to increase to 1.4 million units from 1.3 million units. The company forecasts group motorcycle sales to increase to 18.6 million units, led by gains in Asia excluding Japan, from 17.0 million units.
Write to Kosaku Narioka at [email protected]
Credit: www.marketwatch.com /