Honda Motor Registers 6.8% Revenue Decline In Q2 Due To Supply Chain Woes, Cuts FY22 Outlook - Honda Motor Co (NYSE:HMC)

Honda Motor Co Ltd HMC reported a second-quarter FY22 sales decline of 6.8% year-on-year, to ¥3.4 trillion ($30.94 billion), missing the analyst consensus of $31.28 billion.
Motorcycle business revenue rose 2.5% Y/Y to ¥505.5 billion and Automobile revenue decreased 11.5% to ¥2.1 trillion.
The operating margin was 5.8%, and operating income for the quarter declined 29.7% to ¥198.9 billion.
Q2 profit attributable to owners of the parent decreased 30.8% to ¥166.60 billion.
The interim dividend was ¥55 per share, and the forecast for total dividends to be paid for FY22 is ¥110 per share.
Honda expects the external business environment to remain challenging during the fiscal year due primarily to the resurgence of COVID-19, the supply shortage of certain parts, including semiconductors, and an increase in raw material costs.
Outlook: Honda expects FY22 sales revenue of ¥14.60 trillion (prior view ¥15.45 trillion).
The company sees attributable profit for FY22 of ¥555 billion (prior view ¥670 billion).
Price Action: HMC shares closed higher by 1.52% at $30.74 on Thursday.