Honda (NYSE:HMC) earnings for the automotive company’s fiscal second quarter of 2020 have HMC stock up on Friday. This is thanks to its earnings per share of ¥111.70 for the quarter. This beats out Wall Street’s EPS estimate of ¥99.09. Revenue of ¥3,729.10 billion also comes in above analysts’ estimates of ¥3,713.83 billion.
Let’s take a closer look at the most recent Honda earnings report.
- Per-share earnings for the quarter are up 6.65% YoY from ¥119.66.
- Revenue is down 2.93% from ¥3,841.71 billion in the fiscal second quarter of 2019.
- HMC saw decreased sales revenue in its n Automobile business, Motorcycle business, Life creation, and other business operations during the quarter.
- Operating profit comes in at ¥220,136 billion for the current quarter.
- That’s a 2.64% increase from ¥214.475 billion reported in the same period of the year prior.
- Net profit reported in the fiscal Q2 2020 Honda earnings report is ¥210,173 billion.
- This is an 8.31% drop from the company’s net profit of ¥229.225 billion in fiscal Q2 2019.
The Honda earnings report also includes an update to its outlook for fiscal 2020. This has it expecting revenue to drop 5,30% from fiscal 2019 to ¥15,050 trillion. It’s also looking for earnings per share to come in at ¥329.64. Honda is attributing the changes to its fiscal 2020 outlook from results in fiscal 2019 to differences in the “global automobile production network and capability.”
HMC stock was up 2.40% as of Friday afternoon. The stock is also up 5.44% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
