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Posts Tagged ‘Honda posts profits’

Honda Motor Q1 Earnings Exceed Expectations

Maker shakes off stronger yen for profitable quarter.

by on Aug.03, 2016

Honda rode strong sales in the U.S. to a better-than-expected profit in its first quarter. It's counting on the Ridgeline to extend the run.

Honda Motor Co. reported consolidated income of ¥174.6 billion, or $1.7 billion, for its financial first quarter. The result was down 6.1% from the year-ago quarter, as the company grappled with quality and currency issues.

The company struggled with the impact lingering problems with the Takata airbag issue and “unfavorable currency effects” from a stronger yen. Honda said the dollar traded at about 108 yen in recent months, compared to 121 yen the same period a year ago.

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However, the result exceeded expectations. Analysts surveyed by FactSet had forecast at 133 billion yen ($1.3 billion) quarterly profit. (more…)

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.

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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…)