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.