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- Honda Motor Co Ltd (NYSE: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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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