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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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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.


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.


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.

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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.


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.


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.


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…)

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…)

Toyota Earnings Surge 5% on Sales Gains in U.S., Europe

But maker loses ground at home.

by on Aug.05, 2014

The new Toyota Corolla hit big in the U.S. and Europe.

Driven by strong demand in both North America and Europe, Toyota Motor Co. saw earnings surge 5% in the latest quarter.

Toyota earned 587.77 billion yen, or $5.7 billion, an all-time record, during the April-June quarter, up 4.6%, while global sales increased 2%, to 6.39 trillion yen, or $62.3 billion. Both numbers exceeded industry analysts’ forecasts. According to FactSet, the consensus called for a 12% decline in earnings compared to a year ago, with only a 1% gain in sales.

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The earnings announcement came just days after Toyota released its sales numbers for the first six months of 2013 showing it had remained the world’s largest automotive manufacturer, and apparently still on track to become the first in the industry to sell 10 million vehicles in a single calendar year – though the maker slightly reduced the sales forecast it announced in January.


Toyota Delivers Record Earnings, Sales

But maker warns earnings could dip slightly in year ahead.

by on May.08, 2014

Strong demand for new models, such as the redesigned Corolla, helped Toyota top 10 million sales.

Even after paying a $1.2 billion settlement to the U.S. Justice Department to settle a safety dispute, Toyota Motor Co. wrapped up its fiscal year with record annual profits and sales, Toyota becoming the world’s first maker to ever sell 10 million vehicles in a 12-month period.

But the Japanese giant also warned today that earnings for the year ahead will likely slip slightly as momentum from a weak yen begins to fade. The maker could also feel the impact of an increase in the sales tax in Japan where it overwhelmingly dominates the market.

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For the full fiscal year that ended on March 31st, Toyota delivered net profits of 1.82 trillion yen, or $17.9 billion at current exchange rates. That was nearly double the 962 billion yen it earned the year before. Annual sales, meanwhile, increased 16%, to 25.69 trillion yen, or $252 billion.

Notably, Toyota moved 10.13 million vehicles during the fiscal year, the first automaker ever to achieve that goal – and something it may achieve during the 2014 calendar year, as well, if it hits its targets.


Sales Down But Earnings Up for Toyota

Japanese giant benefits from cost-cutting, weak yen.

by on Nov.06, 2013

Toyota is counting on the new Corolla to help it boost earnings in the months ahead.

Toyota Motor Co.’s quarterly earnings soared by 70% despite slightly softer sales, reflecting the Japanese giant’s cost-cutting efforts as well as the impact of the weak yen.

Toyota increased its earnings forecast for the full fiscal year after posting a $438.4 billion yen, or $4.4 billion, profit for the July – September period, up from 257.9 billion yen a year ago. The world’s largest automaker now expects to generate a 1.67 trillion yen profit for the fiscal year that ends on March 31, 2014.

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“In addition to the impact of the weaker yen, operating income increased due to our efforts with our suppliers and distributors for profit improvement through cost reduction and marketing activities, such as enhancement of the model mix.,” said Nobuyori Kodaira, Toyota’s executive vice president, in a statement.