Honda Motor Reports 68% Rise in Q1 Revenue; Trims FY22 Unit Sales Guidance

  • Honda Motor Co Ltd HMC reported first-quarter FY21 sales revenue growth of 68.7% year-on-year, to ¥3.58 trillion.
  • Sales revenue from Motorcycles rose 88.9% Y/Y to ¥518.2 billion, and automobiles climbed 79.4% to ¥2.25 trillion.
  • The operating margin was 6.8%, and the operating profit for the quarter was ¥243.2 billion.
  • Net profit was ¥222.5 billion against a net loss of ¥80.8 billion last year. 
  • The company has warned of the persistence of chip shortage.
  • Honda announces ¥70 billion shares buyback from August 5, 2021, through December 31, 2021.
  • Outlook: Honda raised FY22 revenue guidance to ¥15.45 trillion from the prior view of ¥15.20 trillion. Operating profit of ¥780.0 billion, versus the previous ¥660.0 billion.
  • The company has lowered the consolidated unit sales outlook for motorcycles to 11.13 million from the previous 11.86 million and automobiles to 2.94 million from the prior 3.03 million units.
  • Price action: HMC shares closed higher by 1.01% at $32.86 on Tuesday.
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