Honda Motor Q2 Profit Climbs; Sees Higher Results In FY

(RTTNews) - Japanese automobile giant Honda Motor Co., Ltd. (HMC) reported Thursday that its second-quarter profit attributable to owners of the parent climbed to 253.23 billion yen from last year's 189.30 billion yen.

Earnings per share were 51.49 yen, up from 36.95 yen a year ago. Operating profit grew to 302.13 billion yen from last year's 231.24 billion yen.

Sales revenue went up to 4.98 trillion yen from 4.26 trillion yen last year.

Looking ahead for fiscal year ending March 31, 2024, the company projects profit attributable to owners of the parent 930.0 billion yen, up 42.8 percent from last year's 651.4 billion yen.

As of the effective date of October 1, 2023, the company implemented a three-for-one stock split of its common stock to shareholders as of the record date of September 30.

For the year, earnings per share are now expected to be 189.64 yen, compared to last year's 384.02 yen. Based on the number of shares prior to the stock split, basic earnings per share for the fiscal year are expected to be 568.92 yen.

Operating profit is expected to be 1.20 trillion yen, up 53.7 percent from 780.7 billion yen a year ago.

Sales revenue is expected to grow 18.3 percent to 20 trillion yen from last year's 16.91 trillion yen.

In Japan, Honda Motor shares traded at 1,654 yen, up 2.9 percent.

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