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Honda Earnings Rebound from Quake

Sales up but unfavorable exchange rates still a problem.

by on Apr.27, 2012

A sales rebound as production of models like the Civic returned to normal helped boost Honda earnings.

Honda earnings for the January to March quarter rebounded by 61% as the maker was able to finally overcome production cuts forced by last year’s devastating earthquake and tsunami in Japan.  But the disaster still took a sharp toll on Honda’s full-year profits.

Honda’s first-quarter sales rebound would have triggered even better results were it not for lopsided exchange rates that cut sharply into margins in the U.S. and other parts of the world.  That’s one reason Honda came in significantly below industry analysts’ expectations for the quarter.

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The third-largest of the Japanese makers reported earnings of 71.5 billion yen, or $882.7 million during the final quarter of the Japanese fiscal year.  That was up from 44.5 billion yen during the same quarter of 2011.  But a poll of analysts by FactSet had predicted earnings of 93.2 billion yen, a significant shortfall.