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Toyota Earnings Up – But Outlook Bleak Going Forward

Japanese giant forecasts 35% profit plunge for current fiscal year.

by on May.11, 2016

Toyota's record earnings were overshadowed by some serious concerns going forward.

Even while celebrating yet another record annual profit officials at Toyota Motor Corp. put a bleak face on, warning that profits for the current fiscal year are likely to fall by 35% or more.

The auto industry’s sales leader expects to be hit hard by the growing strength of the Japanese yen. And it also could feel the brunt of plant closures and cutbacks caused by the damaging earthquake that hit the southwestern part of the country last month.

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The automaker had been able to drive profits to record levels three years in a row largely due to the “tailwind” of a weak yen said Toyota President and CEO Akio Toyoda. “Since the start of the year, the tide has changed,” he added.

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Nissan Turns $1.6B Q3 Profit

Automaker sees earnings rise 24% during quarter.

by on Feb.10, 2016

Nissan Chief Carlos Ghosn said the company expects to meet its financial forecast for the full year.

Like so many other automakers, Nissan rode the wave of record sales in North America to a profit last quarter.

The Japanese automaker reported a 24% increase in operating profit to $1.6 billion on revenue of $24.8 billion.

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Through three quarters, Nissan posted an operating profit of $4.8 billion, representing an increase of 40.6% on revenue of $73.5 billion, up 10.6%. (more…)

Toyota Quarterly Earnings Top $5.4 Billion

Net income jumps 5% despite flat sales.

by on Feb.05, 2016

Toyota CEO Akio Toyoda unveils the new Lexus LC 500 at last month's Detroit Auto Show.

Toyota managed to pull together a 5% jump in net profits for the third quarter of its fiscal year, despite a tepid global economy and relatively flat sales.

The automaker announced it made 627.9 billion yen, or $5.4 billion, during the October-December period, up from 600 billion yen the year before. Quarterly sales and revenues were up a more modest 2.4%, to $62.7 billion. A weak yen played in Toyota’s favor.

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The news came two days after rival General Motors reported record earnings of $9.7 billion – for the full fiscal year. Meanwhile, he world’s second-largest automaker, Volkswagen AG, said on Friday it would delay issuing its fourth-quarter and full-year earnings as it struggles to account for the impact of its ongoing diesel emissions cheating scandal.

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Weak Yen Equals Strong Earnings for Toyota

But Japanese giant cuts global sales outlook.

by on Nov.05, 2015

The 2016 Toyota Prius will be the first model to use the Toyota New Generation Architecture.

The world’s largest automaker delivered the industry’s biggest profit for the July to September quarter, earnings for Toyota Motor Corp. rising 13.5% to 611.7 billion yen, or $5.0 billion, despite decreased sales and increased spending.

Toyota saw global sales slip by 42,000 vehicles, to 2.48 million, during the second quarter of its fiscal year, the decline coming in Europe, Japan and other parts of Asia. Even so, it generated 7.1 trillion yen, or $58.5 billion, an 8% increase in revenues.

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TMC Managing Officer Tetsuya Otake credited, “progress in cost reduction and other profit improvement activities, in addition to favorable foreign exchange rates.” The cheap yen added about 160 billion yen, or $1.3 bilion, to Toyota’s bottom line for the quarter.

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GM Delivers Strong, $1.1 Bil Q4 Earnings

But recalls drive down profit for full year to $2.8 bil.

by on Feb.04, 2015

GM CEO Mary Barra put a positive spin on the maker's latest earnings.

General Motors saw earnings surge 22.2% during the last three months of 2014, driven by strong U.S. and Chinese sales – but the maker also reported a sharp decline in its full-year net income which was hammered by the cost of major recall problems.

GM closed 2014 with fourth quarter earnings of $1.1 billion, or $0.66 a share, despite one-time items that reduced earnings by $900 million, or $0.53 a share. By comparison, the maker earned $0.9 billion, or $0.57 a share, during the final three months of 2013.

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“A strong fourth quarter helped us deliver very good core operating results in 2014 despite significant challenges we and the industry faced,” said GM CEO Mary Barra in a prepared statement. “By keeping our customers at the center of all our decisions, we addressed those challenges head-on and outlined a customer-focused strategic plan that will guide our company well into the future.”

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FCA Endures Profit Drop Due to Fiat Takeover

Sales, shipments, US marketshare all rise in 2014.

by on Feb.03, 2015

Despite increasing its marketshare by a full point last year, the former Chrysler Group saw earnings decline.

Despite increases in shipments, sales, marketshare and revenue, FCA US, the former Chrysler Group, saw its overall profits drop substantially in 2014 due to the completion of Fiat’s takeover of Chrysler.

FCA US reported full-year net income of $1.2 billion compared with net income of $2.8 billion in 2013. The maker’s fourth quarter net income was $669 million, down about two-thirds from $1.6 billion during the same period last year.

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The company took a hit this year on $1.2 billion in “unfavorable infrequent items,” such as the costs associated with the Fiat takeover Chrysler. Conversely, last year’s results benefitted from $962 million related to the release of valuation allowances on deferred tax assets. (more…)

BMW Earnings Beat Forecast

Maker anticipates big jump in sales and earnings for full year.

by on Aug.05, 2014

BMW is counting on a wave of new products, such as this M4 Convertible, to help bolster sales and earnings for the rest of 2014.

BMW’s net earnings jumped more than 27% during the second quarter, and the German maker confirmed its earlier forecast of a big jump in sales and profits for all of 2014.

The largest of the luxury car manufacturers, BMW earned 1.77 billion Euros for the April-June period, or $2.38 billion, up from 1.39 billion Euros a year ago. The automaker sold 5.3% more vehicles through its BMW, Rolls-Royce and Mini brands, a total of 533,187 cars and crossovers.

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But revenues didn’t quite keep pace, climbing a more modest 1.8%, to 19.9 billion Euros. The strong Euro didn’t help. And BMW has been ramping up spending in a market that is demanding more high-tech features, and solutions to demands for better fuel economy and lower emissions, it said. (more…)

Nissan Earnings Surge 37% on Weak Yen, Strong Sales

Net profit significantly beats analysts’ forecasts.

by on Jul.28, 2014

The Nissan Sentra has helped drive strong demand for the maker, especially in the U.S. market.

Nissan saw a big surge in earnings for the latest quarter, with analysts crediting both strong sales in China and the U.S., as well as a boost from favorable exchange rates.

The second-largest Japanese maker reported a net profit of 112 billion yen, or $1.1 billion, a 37% year-over-year increase from 82 billion. The figures far and away exceeded analysts’ consensus forecast of 85 billion yen, or $835 million, according to data gathered by FactSet.

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“Nissan continued to make progress in the first three months of the fiscal year as encouraging demand for new products, benefits from recent plant investments, and improving market conditions in North America, China and Europe combined to lift both revenues and profits,” said Nissan President and CEO Carlos Ghosn.

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Strong Sales, Weak Yen Drive Up Nissan Earnings

China, Japan see strong surge in demand.

by on Feb.10, 2014

Strong demand for the Altima boosted U.S. sales.

Surging global sales, along with a weak Japanese yen, helped Nissan Motor Co. deliver a 57% increase in profits for the final quarter of 2013.

The second-largest Japanese maker earned 84.3 billion yen, or $823 million, for the October-December quarter, up from 53.8 billion yen the year before – but a fraction of the 525.4 billion yen, or $5.2 billion, in earnings announced by the industry giant Toyota Motor Co. last weak.

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Both makers, along with Japan’s third-largest automotive manufacturer Honda, have benefited significantly from last year’s plunge in the yen which averaged around 80 to the U.S. dollar during the final months of 2013, down from around 100 a year before.

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Ford Reports $8.8 Billion in Profit

Strong sales in North America, China drive results.

by on Jan.28, 2014

Ford reported $8.8 billion in pre-tax earnings for 2013, including $8.6 billion in North America.

Ford continued its run of profitable years in 2013 with strong sales in North America, Asia Pacific and South America. Even the company’s European unit saw sales increase though not enough to turn a profit.

For the fourth quarter, Ford made a strong run pushing the automaker over the finish line, where it recorded a pre-tax profit of $1.3 billion, or 31 cents per share; however, Ford recorded a favorable tax item for $2.1 billion pushing the maker’s net income for Q4 to $3 billion, or 74 cents per share: an increase of $1.4 billion compared with year-ago results.

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Ford reported $8.8 billion in pre-tax profits for 2013, including a record $8.6 billion North America, although it would have been higher if not for the ongoing sluggishness of the European economy. Overall, the maker’s net income was $7.2 billion, or $1.76 per share. (more…)