Detroit Bureau on Twitter

Posts Tagged ‘Honda earnings results’

Despite Safety Woes, Honda Earnings Climb 20%

Weak yen offsets cost of airbag recall.

by on Jul.31, 2015

Honda's automotive unit helped the company to strong first-quarter profits despite setbacks from Takata's faulty airbags.

Despite being slammed by the ongoing recall of Takata airbags, Honda Motor Co. was able to deliver a 20% jump in earnings for the first quarter of its 2015 fiscal year.

The cheap yen – which has dropped almost 20% against the dollar over the past year – helped drive Honda’s April-June net income to 186 billion yen, or $1.5 billion. A year ago, the maker reported 155.6 billion yen in net income, or about $1.3 billion.

Your Reliable Source!

On a per share basis, Honda handily outperformed the 65 cent average forecast of the Zacks Consensus Estimate with an 84-cent, or 103.22-yen, per share number. (more…)