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Aug 11, 2023

Honda Motor Expected to Post 56% Increase in First

By Kosaku Narioka Honda Motor is scheduled to report its first-quarter results on Wednesday. Here is what you need to know: NET PROFIT FORECAST: Honda is expected to post a 56% increase in net profit

By Kosaku Narioka

Honda Motor is scheduled to report its first-quarter results on Wednesday. Here is what you need to know:

NET PROFIT FORECAST: Honda is expected to post a 56% increase in net profit to 232.44 billion yen ($1.63 billion) for the quarter ended June, according to a poll of analysts by Quick. That would compare with net profit of Y149.22 billion in the year-earlier period.

REVENUE FORECAST: First-quarter revenue is estimated to have risen 15% to Y4.422 trillion, according to the Quick poll.

WHAT TO WATCH:

--MOTORCYCLE BUSINESS: Operating profit from its motorcycle business climbed 57% to Y488.71 billion for the year ended March, as sales grew in Indonesia, India and other markets. Investors will be paying attention to the pace of profit growth in the key segment.

--MARGIN: Operating profit margin deteriorated to 4.6% for the year ended March from 6.0% the previous fiscal year due to increases in various costs. Investors are watching margin trends closely, as carmakers globally are dealing with higher operation costs. Honda in May projected its operating profit margin to improve to 5.5% this fiscal year and said it would aim to raise it to 7.0% or more in the year starting April 2025.

--OUTLOOK: Honda has projected group car sales to climb 18% to 4.4 million, revenue to increase 7.6% to Y18.200 trillion and net profit to rise 23% to Y800.00 billion this fiscal year. Investors will focus on any changes to the management's annual forecasts.

Write to Kosaku Narioka at [email protected]

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