Toyota Motor Clocks 25% Top-Line Growth In Q3

Toyota Motor Corp TM reported third-quarter FY23 sales growth of 25% year-on-year to ¥9.8 trillion, versus ¥7.8 trillion last year.
Total costs and expenses rose 26% Y/Y to ¥8.8 trillion.
The operating margin was 9.8%, and operating income for the quarter increased 22% to ¥956.6 billion.
The company held ¥6 trillion in cash and equivalents as of Dec. 31, 2022.
Basic EPS for the quarter was ¥53.40 versus ¥57.18 last year.
Outlook: Toyota sees FY23 revenue of ¥36 trillion.
Toyota expects FY23 consolidated vehicle sales of 8.8 million units. It expects total retail unit sales, which includes Toyota, Daihatsu and Hino, of 10.4 million units.
Price Action: TM shares are trading higher by 1.42% at $145.87 on the last check Thursday.
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