Honda Motor (HMC) Reports Q3 Revenues of JPY3.97 Billion

Honda Motor (NYSE: HMC) reported Q3 revenue for the quarter came in at JPY3.97 billion, versus JPY3.96 billion reported last year.

Consolidated sales revenue for the fiscal third quarter (October 1, 2018 through December 31, 2018) amounted to 3,973.6 billion yen, remaining at approximately the same level compared to the same period last year, due primarily to an increase in motorcycle unit sales in certain countries such as Vietnam and an increase in sales revenue from financial services business. This was despite decrease in sales revenue factors such as unfavorable foreign currency translation effects. Consolidated operating profit for the fiscal third quarter amounted to 170.1 billion yen, a decrease of 40.2% compared to the same period last year, due primarily to a decrease in profit related to changes in sales volume and model mix, an increase in selling, general and administrative (SG&A) expenses and unfavorable foreign currency effects. This was despite profit-increasing factors such as cost reduction efforts. Consolidated profit for the fiscal third quarter attributable to owners of the parent amounted to 168.2 billion yen, a decrease of 402.0 billion yen (70.5%) compared to the same period last year, due primarily to the reverse effect from the impact of a reduction of corporate tax rates in the U.S. (346.1 billion yen)*1 recorded in the same period last year.

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