Honda Motor turns to profit in first quarter, lifts outlook

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Honda
Honda

Japanese automaker Honda Motor Co Ltd reported on Wednesday that its first quarter profit attributable to owners of the parent was 222.5 billion yen (2.03 billion dollars), compared to last year’s loss of 80.87 billion yen.

Earnings per share were 128.87 yen, compared to loss of 46.84 yen last year. Consolidated operating profit amounted to 243.2 billion yen, compared to a loss of 113.69 billion yen a year ago.

Honda’s consolidated sales revenue increased 68.7 per cent, to 3.58 trillion yen, from the prior year’s 2.12 trillion yen, due mainly to increased sales revenue in all business operations.

The total expected annual dividend per share of common stock for the fiscal year ending March 31, 2022, is 110 yen per share.

Looking ahead, based on the forecast of a year-on-year increase in both sales revenue and profit for the current fiscal year, the company lifted the attributable profit view by 80.0 billion yen, to 670.0 billion yen, and operating profit outlook by 120.0 billion yen, to 780.0 billion yen.

The prior year’s attributable profit was 657.4 billion yen and operating profit was 660.2 billion yen.

Sales for the year is now expected to be 15.45 trillion yen, higher than previous estimate of 15.20 trillion yen, and up from last year’s 13.17 trillion yen.

In Japan, Honda Motor shares were trading at 3,547 yen, down 0.67 percent.

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