Honda Motor Clocks 20% Sales Growth In Q3

Honda Motor Co Ltd HMC reported third-quarter FY23 sales growth of 20% year-on-year to ¥4.4 trillion.
The operating profit for the year rose 22% to ¥280.4 billion.
Operating margin for the quarter was 6.3%.
Motorcycle business sales revenue increased 36.5% to ¥789.6 billion, whereas Automobile business sales revenue rose 19.5% to ¥2.8 trillion.
Profit for the period attributable to owners of the parent increased 26.8% Y/Y to ¥244.6 billion.
Cash and equivalents as of Dec. 31, 2022, totaled ¥3.2 trillion.
Honda will acquire its own shares, with the maximum acquisition amount of 70.0 billion yen, with the purposes including improving efficiency of its capital structure and implementing a flexible capital strategy.
Outlook: Honda sees FY23 sales at ¥17.25 trillion (downward revision of the prior forecast by 150 billion yen).
It expects FY23 operating profit of ¥870 billion and FY23 profit attributable to owners of the parent of ¥725 billion (unchanged from the previous view).
Price Action: HMC shares are trading lower by 3.02% at $23.80 in the premarket on the last check Friday.
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