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Honda Hikes Outlook as Earnings Jump 36%
Honda Motor Co. netted 169 billion yen ($1.5 billion) in its fiscal third quarter ended Dec. 31, up 36% from the same period in 2015.
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Honda Motor Co. netted 169 billion yen ($1.5 billion) in its fiscal third quarter ended Dec. 31, up 36% from the same period in 2015. A weak yen caused revenue to drop 3% to 3.5 trillion yen ($31 billion).
The carmaker now expects its operating profit, which climbed 27% in the quarter, will soar 56% to 785 billion yen ($6.9 billion). That total compares with an earlier estimate of 650 billion yen. Net earnings are now expected to jump 58% to an upwardly revised 545 billion yen ($4.8 billion).
Honda’s global passenger vehicle sales in October-December, including those made by its joint ventures, climbed 7% to 1.31 million units. Sales reached record highs for the period in China and the U.S.
The company raised its unit sales outlook slightly for the full fiscal year to 5.0 million vehicles, up 6% from the previous 12 months. It now expects revenue will total 13.8 trillion yen ($122 billion), compared with 14.6 trillion yen last year.
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