Honda Q3 Profit Falls; Cuts FY15 Earnings View, Lifts Sales Forecast

(RTTNews) - Japanese automaker Honda Motor Co. Ltd. (HMC) Friday said third-quarter net income decreased to 136.5 billion yen from 160.7 billion yen in the previous year. Earnings per share were 75.75 yen, compared to 89.18 yen last year.

Operating income declined 22.5 percent to 177.2 billion yen, mostly due to a decrease in income associated with changes in sales volume and model mix as well as increased SG&A expenses including quality related expenses, despite positive FOREX effects.

Net sales increased to 3.29 trillion yen from 3.02 trillion yen in the previous year, mainly due to a rise in motorcycle unit sales as well as the positive impact of foreign exchange effects.

Third-quarter dividend is 22 yen per share, compared to 20 yen per share last year.

For fiscal 2015, the company expects earnings of 545 billion yen or 302.39 yen per share, operating income of 720.0 billion yen and net sales of 12.9 trillion yen.

In November 2014, the company expected for 2015, net income attributable to the company of 565.0 billion yen and 313.49 yen per basic share, operating income of 770.0 billion yen, on projected net sales of 12.750 trillion yen.