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Home News

Honda Motor Set to Report Q1 Results

by Myfxtools
August 9, 2023
in News
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Honda Motor is set to announce its first-quarter results on Wednesday. Here is what you need to know:

Net Profit Forecast

According to a poll of analysts by Quick, Honda is expected to report a 56% increase in net profit to 232.44 billion yen ($1.63 billion) for the quarter ended June. This compares to net profit of 149.22 billion yen in the same period last year.

Revenue Forecast

The Quick poll estimates that first-quarter revenue is likely to have risen by 15% to 4.422 trillion yen.

Key Points to Watch

Motorcycle Business

Honda’s operating profit from its motorcycle business grew significantly by 57% to 488.71 billion yen for the year ended March, driven by sales growth in Indonesia, India, and other markets. Investors will be closely monitoring the pace of profit growth in this crucial segment.

Operating Profit Margin

The operating profit margin for Honda declined to 4.6% in the previous fiscal year from 6.0% due to increases in various costs. Given the rising operational expenses faced by carmakers globally, margin trends are being closely watched by investors. In May, Honda projected an improvement in its operating profit margin to 5.5% for this fiscal year and aims to raise it to 7.0% or more by April 2025.

Outlook

For this fiscal year, Honda projects a substantial increase in group car sales by 18% to 4.4 million, revenue growth of 7.6% to 18.2 trillion yen, and a 23% rise in net profit to 800.00 billion yen. Any changes to the management’s annual forecasts will be of particular interest to investors.

Remember, Honda Motor will release its first-quarter results on Wednesday, so stay tuned for updates.

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