Honda Motor (HMC) Reports Q2 Revenues of JPY3.84 billion

Honda Motor (NYSE: HMC) reported Q2 revenue for the quarter came in at JPY3.84 billion, versus JPY3.73 billion reported last year.

Consolidated sales revenue for the fiscal second quarter (July 1, 2019 through September 30, 2019) amounted to 3,729.1 billion yen, a decrease of 2.9% compared to the same period last year, due primarily to a decrease in sales revenue such as automobile and motorcycle businesses, as well as unfavorable foreign currency translation effects. This was despite an increase in sales revenue from financial services business.

Consolidated operating profit for the fiscal second quarter amounted to 220.1 billion yen, an increase of 2.6% compared to the same period last year, due primarily to a decrease in selling, general and administrative (SG&A) expenses that included quality-related expenses as well as cost reduction efforts. This was despite a decrease in profit related to changes in sales volume and model mix resulting from a decrease in motorcycle and automobile unit sales due to the slowdown of the Indian market.

Consolidated profit before income taxes for the fiscal second quarter amounted to 289.6 billion yen, an increase of 2.3% compared to the same period last year. Consolidated profit for the fiscal second quarter attributable to owners of the parent amounted to 196.5 billion yen, a decrease of 6.7% compared to the same period last year, due primarily to an increase in income tax expenses.

Consolidated financial results for the fiscal first half (April 1, 2019 through September 30, 2019) were as follows: consolidated sales revenue amounted to 7,725.3 billion yen, consolidated operating profit amounted to 472.6 billion yen, consolidated profit before income taxes amounted to 579.4 billion yen and consolidated profit for the fiscal first half attributable to owners of the parent amounted to 368.8 billion yen.

The previously announced forecast for consolidated operating profit for the current fiscal year (April 1, 2019 through March 31, 2020) was revised downward by 80.0 billion yen to 690.0 billion yen, primarily to reflect unfavorable currency effects. Honda will continue to make steady progress in the improvement of profitability and strives to establish a business structure which generates profit equivalent to or more than that of the previous fiscal year.

For earnings history and earnings-related data on Honda Motor (HMC) click here.

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