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Posts Tagged ‘toyota earnings’

Toyota Net Up, Though Operating Income Falls, Maker Forecasting Big Full-Year Increase

News comes as Japanese giant prepares to unveil new battery-car joint venture with Mazda.

by on Aug.04, 2017

Toyota posted an 11% increase in net earnings for the company's first quarter, beating analysts' forecasts.

Toyota Motor Corp. delivered an 11% jump in net earnings on Friday, though the maker said its operating profit tripped by roughly the same percentage during the first quarter of its fiscal year.

The numbers were better than industry analysts had predicted, nonetheless, and the Japanese giant raised by 16% its forecast for net income during the fiscal year ending next March 31, in part due to expectations for a weaker yen.

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Toyota’s financial news was all but drowned out, however, by the maker’s confirmation that it will take an equity stake in smaller Japanese maker Mazda Motors Corp. The two companies also are expected to launch a new joint venture to produce electric vehicles while setting up a U.S. assembly plant that will cost $1.6 billion and employ as many as 4,000 workers after it goes into operation in 2021. (more…)

Toyota’s Earnings Take 21% Tumble

But CEO says company’s cars are no longer “boring.”

by on May.10, 2017

Toyota's earnings are down again, but at least its cars are less "boring," said CEO Toyoda.

For a second year in a row, Toyota saw its profits tumble, this time by nearly 21%, largely driven by the high cost of propping up demand in a slowing U.S. market.

Earnings were also hammered by unfavorable exchange rates, company officials noted during a media briefing on Wednesday, though at $16.1 billion, or 1.83 trillion yen, Toyota still managed to out-earn its biggest rivals, including General Motors and Volkswagen.

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But that wasn’t enough to satisfy CEO Akio Toyoda, especially in light of the decline Toyota experienced in the previous fiscal year ending March 31, 2016. “In the sporting world, two years of falling profit would be considered a losing streak, and I hate losing,” he told reporters and analysts.

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Toyota Earnings Tumble on Weak Yen

“No immediate plan” to shift production from Japan to U.S.

by on Feb.06, 2017

Strong demand for light trucks like the RAV4 propped up Toyota's sales in the U.S.

A strong yen translated into weaker earnings for Toyota Motor Corp. during the fiscal third quarter, with the impact likely to continue in the months to come, the company anticipating a 26% decline in its net profit for the year ending March 31.

Separately, Toyota officials told reporters that despite comments by CEO Akio Toyoda last month that the automaker will add more jobs in the U.S., there are “no immediate plans” to curb production at Toyota’s factories in Japan which produce about 3 million vehicles annually, many of them bound for America.

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Toyota’s earnings could have slipped even further had it not engaged in aggressive cost-cutting, Managing Officer Tetsuya Otake told reporters during a conference call. Nonetheless, the problem will continue, he said, noting, “We’ve revised our full-year yen forecast to 107 yen to the U.S. dollar from 103 yen, which is the biggest contributing factor to our profit forecast revision.”

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Toyota Tumbles; Operating Profits Plunge 43%

Weakness in North America, currency shifts hammer Japanese giant.

by on Nov.08, 2016

The new C-HR could be a critical addition for Toyota.

Toyota Motor Corp.’s operating profit earnings took a 43% plunge during the July to September quarter, the world’s largest automaker struggling in the face of numerous headwinds. Net income, meanwhile, slid 36% for the quarter.

The growing strength of the yen was one problem for the Japanese giant. But the automaker also faced challenges in North America where the overall automotive market is slipping after the strongest recovery in history. Complicating matters, Toyota has been overly dependent on lower-profit passenger cars, such as the Camry and Corolla, as higher-margin trucks have been gaining momentum.

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“Supply has not kept up with demand” for more profitable models like the Toyota RAV4 and Highlander utility vehicles, acknowledged Executive Vice President Takahiko Ijichi, something that has led Toyota to trim its outlook for North America for the rest of the fiscal year ending March 31, 2017.

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Toyota Earnings Slip; Company Cuts Forecast

Strong yen, production problems, sliding margins take a toll.

by on Aug.04, 2016

Toyota CEO Akio Toyoda faces pressure to cut costs even as the maker invests in new products.

Snagged by a strong yen, tepid sales and supplier problems, Toyota Motor Corp. delivered a weak profit for the latest quarter, the Japanese giant also warning that the current fiscal year could be its weakest in nearly half a decade.

Toyota, whose global sales slipped behind rival Volkswagen AG for the first half of this year, said it earned $5.1 billion for the April-June quarter, the first in its new fiscal year. That was a decline of 14.5%. Operating earnings, meanwhile, were off 15%, to $5.9 billion.

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By the Numbers!

Net revenues also declined 5.7%, to $60.9 billion, despite a modest 1% increase in global vehicle sales. The maker sold 2.53 million cars, trucks and crossovers for the quarter, but that number was short of expectations due to a series of natural and man-made disasters that impacted production in Toyota’s home market plants.

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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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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.

By the Numbers!

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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Exchange Rates Drive Toyota’s Profits to a New Record

Currency shifts, cost cuts overcome sales slide.

by on Aug.04, 2015

Sales of the recently redesigned Camry helped Toyota boost sales in North America.

Toyota Motor Co. reported net profits of 646.3 billion yen, or $5.2 billion, for the April-June quarter, a 10% increase, and the maker’s third consecutive record for the quarter. But the numbers barely concealed some fundamental problems facing the Japanese giant.

Worldwide sales were down by almost 6% for the first quarter of the Japanese fiscal year, to 2.1 million, with the maker facing a number of problems across Asia. As a result, Toyota lost its global sales crown for the first half of 2015 to Germany’s Volkswagen AG.

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The sales decline was “a result of weaker sales in Japan,” and emerging markets like China and India, “despite stronger sales in North America,” said Tetsuya Otake, managing officer of Toyota, during a telephone news briefing.

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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…)