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Posts Tagged ‘earnings news’

Daimler Profits Double in First Quarter 2017

Mercedes-Benz record sales lead to impressive results.

by on Apr.27, 2017

Daimler's Dieter Zetsche said the company rode strong sales from Mercedes-Benz to strong profits in the first quarter.

Record sales by Mercedes-Benz Cars and Mercedes-Benz Vans helped Daimler AG double its profits during the first quarter.

“A very successful quarter lies behind us,” said Dieter Zetsche, chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, adding the company continues to implement its strategy for sustainable growth.

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“Ahead of us, we have a variety of opportunities for further profitable growth. We do have the right products to take advantage of these opportunities – and the financial strength to make the necessary investments. The latest example: our new S-class. Daimler remains in the fast lane,” Zetsche said. (more…)

GM Expecting Improved Earnings in 2017

Barra said improved efficiencies and sales will help meet revised target.

by on Jan.10, 2017

General Motors CEO Mary Barra announced Tuesday, Jan. 10, that the company expects its 2017 earnings per share to be higher than earlier predictions.

General Motors Co. today said it expects its 2017 earnings per share diluted-adjusted to increase to $6 to $6.50, up from its 2016 calendar-year outlook of $5.50 to $6.

In 2017, the company also expects to maintain or improve EBIT-adjusted and EBIT-adjusted margin on higher revenues, compared to 2016, and generate about $6 billion of automotive-adjusted free cash flow.

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Based on this strong outlook, the GM Board of Directors approved an additional $5 billion in common stock repurchases under its existing share repurchase program, which was announced March 9, 2015. The new authorization, which has no expiration date, brings the total under the program to $14 billion. (more…)

BMW Rides Strong European, Asian Sales to Q2 Profits

German company's U.S. sales are down double digits.

by on Aug.03, 2016

BMW's $1 billion plant in San Luis Potosi, Mexico, may help reverse the tide of slumping sales in the Americas, which are down 8% in the first six months of 2016.

The BMW Group posted record net income, sales and revenue for the second quarter, while maintaining its impressive margins. The results continued a trend that began with a strong first quarter.

As it recorded its best ever quarterly sales volume and net profit figures between April and June, the company wrapped up negotiations with Intel and Mobileye that reflect the company’s effort “to play a leading role in developing safe and reliable automated driving,” BMW said in a statement that accompanied the second-quarter financial statement.

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“We sold more vehicles in the second quarter than ever before and achieved record earnings. We are growing profitably while simultaneously implementing our strategy step by step,” said Harald Krüger, chairman of the Board of Management of BMW AG. (more…)

Ford Posts Lower Than Expected Q2 Profit

Despite missing analyst estimates, company sets new record.

by on Jul.28, 2016

Ford Motor Co.'s second-quarter profits fell short of analyst estimates at $2 billion.

Ford Motor Co. second-quarter profits came in below expectations, as the company’s operations in South America lost money and Ford Credit’s profits fell due to a decline in the value of off-lease used cars sold at auction during the quarter.

Overall, Ford reported net income $2 billion in the second quarter, which was down $190 million from a year ago. Additionally, total company adjusted pre-tax profit of $3 billion in the second quarter, typically the industry’s most profitable, was down $293 million while earnings per share were 49 cents per share – down 5 cents per share from a year ago.

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The results fell short of analyst consensus estimates of 60 cents per share; however, company revenue was up by $2.2 billion to $39.5 billion, exceeding analyst estimates of $36.1 billion. (more…)

Honda Earnings Dragged Down by Takata Airbag Problem

Carmaker set to recall another 21 million Takata-made Vehicles.

by on May.13, 2016

Honda aims for a sweet spot in the midsize pickup market with the 2017 Ridgeline. It may be a key player in Honda's rebound from Takata-impacted profits.

Honda Motor Co. earnings took another tumble as the maker was hit by both a stronger yen and the ongoing recall of faulty Takata airbags.

The third-largest of Japan’s automakers recalled about four times as many vehicles last year – largely due to the Takata problem – than it sold. And the issue, now linked to 13 deaths, isn’t about to go away. Pressed by concerns that the defect is more widespread than originally believed, Honda will recall another 21 million vehicles, Executive Vice President Tetsuo Iwamura said Friday.

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Honda net income for the fiscal year that ended March 31 fell to 344.5 billion yen, or $3.2 billion. That not only trailed the consensus estimate of industry analysts but came in 34% short of the company’s own forecast earlier in the year. (more…)

Toyota Profit Beats Expectations as Maker Ups Earnings Forecast

Weak yen helps, but problems in China and home market persist.

by on Feb.04, 2015

Toyota is hoping the next-gen Tacoma will keep the good times rolling sales-wise in the U.S. in 2015.

Toyota Motor Co. delivered a 14% increase in earnings during the most recent quarter, outstripping analysts’ expectations. The maker also said it is raising its forecast for the full fiscal year, even though it cut the estimate of how many vehicles it will sell.

Toyota delivered net earnings of 600 billion yen, or $5.1 billion, between October and December – the third quarter in its fiscal year. Industry analysts surveyed by FactSet had anticipated a profit of 540 billion yen, or $4.6 billion.

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The Japanese maker – which remained the world’s best-selling automotive manufacturer in 2014 – credited several factors for the strong performance, including the lift it got from the weakening yen, as well as cost-cutting efforts. (more…)

When is a Profit a Loss?

When Tesla’s doing the accounting.

by on Nov.06, 2014

Tesla is going to churn out fewer Model S sedans in the near term and reported a profit and a loss for its most recent quarter.

It’s easy to get caught up in the wave of euphoria that is Tesla Motors, especially when they’re bucking the odds by producing viable, stylish and high quality electric vehicles and making money while doing it. One can forget, ahem…to look a little closer at what’s being reported.

The Palo Alto, California-based EV maker with the perpetually higher-than-expected stock price reported that its earnings for the third quarter were up two cents a share. That’s great news considering the company wasn’t expected to make any money.

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However, some – mostly us – overlooked the quirk that is Tesla and its reporting practices. Tesla stubbornly clings to reporting non-GAAP numbers whereas the rest of the world uses GAAP results. When you look at the GAAP, short for Generally Accepted Accounting Principles, figures, which Tesla did provide further down in the letter to its shareholders the numbers don’t look so rosy. (more…)

Tesla Confounds Analysts By Turning 3Q Profit

Despite plant shutdown, EV maker makes money.

by on Nov.05, 2014

Tesla founder and CEO Elon Musk reported the company turned a profit during the third quarter.

Tesla confounded analysts once again by posting a third quarter profit of two cents per share despite predictions of a loss for the quarter due to the halt in production in the company’s plant in Fremont, California.

Analysts were not optimistic about the company’s odds of turning a profit and the average estimate compiled by Bloomberg was zero cents.

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“Despite losing almost a month of production due to factory retooling, we delivered the highest number of Model S vehicles ever, with several new records set in North America and worldwide,” Chief Executive Officer Elon Musk wrote in a letter to shareholders posted to the company’s website. (more…)

Chrysler Sees 32% Jump in 3Q Profits

Maker rides strong sales of Jeep and Ram during quarter.

by on Nov.05, 2014

Chrysler saw its net income rise 32% during the third quarter due to an increase in vehicle sales, like the Chrysler 200.

Chrysler Group LLC reported that its net income increased by 32% to $611 million for the third quarter while its revenue increased by 18% to $20.7 billion. The increases came on the backs of improved sales across its lineup.

“Jeep sales were up 44% while Ram sales were up 27% and marketshare in the U.S. increased by one full point to 12.3%,” said Richard Palmer, Chrysler’s chief financial officer. “We’re clearly the fastest growing company in the American market.”

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The automaker expects worldwide vehicle shipments to reach 2.9 million units this year, which will generate $80 billion in revenue with adjusted net income coming in between $2.3 billion and $2.5 billion, Palmer said. (more…)

Toyota Beats Earnings Estimates on Strong Sales

Maker ups forecast for the rest of the fiscal year.

by on Nov.05, 2014

Toyota reports quarterly profits of $4.2 billion: an increase of 12.6%.

With its sales on track to remain number one in the industry, Toyota Motor Co. saw its worldwide net income jump 12.6% for the first half of the fiscal year, to $10.9 billion, while income for the July to September quarter rose to $4.2 billion, exceeding industry analysts’ expectations.

The maker credited several factors, including strong demand for its vehicles in most markets, though it did see some declines in the home Japanese market and some other parts of Asia. The weak yen also contributed to the maker’s performance during the second quarter of the year – as it did for Japanese rivals Nissan and Honda.

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Toyota said it now anticipates net income for the full fiscal year ending next March 31 to reach $19.2 billion, though sales dip slightly. (more…)