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Honda Raises Forecasts as Fiscal Q1 Profit Surges on Motorcycle, Financial Services Performance

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Honda Raises Forecasts as Fiscal Q1 Profit Surges on Motorcycle, Financial Services Performance

Honda Motor's (TYO:7267) attributable profit surged 129% to 450.9 billion yen in the fiscal first quarter from 196.7 billion yen in the year-ago period, according to a Wednesday disclosure to the Tokyo Exchange.

Diluted earnings per share more than doubled to 115.84 yen during the three months through June 30 from 46.80 yen a year earlier. The figure beat expectations of 61.55 yen compiled by Investing.com.

Sales revenue jumped about 14% to 6.062 trillion yen in the period from 5.340 trillion yen a year earlier and was higher than the forecast of 5.80 trillion yen.

Its motorcycle business saw revenue jump to 1.141 trillion yen from 951.6 billion yen. Motorcycle sales rose to 5.7 million during the quarter from 5.1 million.

Revenue from its financial services segment grew to 1.026 trillion yen from 831.6 billion yen.

The motorcycle giant raised its attributable profit forecast for the fiscal year through March 31, 2027, to 400 billion yen from the 260 billion yen forecast in May.

Revenue is also seen to jump to 24.2 trillion yen from the previous 23.2 trillion yen forecast, while operating profit could grow to 650 billion yen from the previous 500 billion yen forecast.

Honda also plans to distribute 70 yen per share in dividends for the full fiscal year.

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