Honda Motor Posts Net Loss In Q4; Sees Higher Earnings, Weak Revenues Next Year
(RTTNews) - Japanese automaker Honda Motor Co. Ltd. (HMC) reported Wednesday that its fourth-quarter loss attributable to owners of the parent totaled 13.02 billion Japanese yen, compared to prior year's profit of 107.75 billion yen.
Loss per share was 7.40 yen, compared to profit of 60.59 yen a year ago.
The loss in the latest quarter was mainly due to the increased Income tax expense.
Profit before income taxes decreased 41.7 percent to 111.1 billion yen from last year's 190.45 billion yen.
Operating profit declined 66.6 percent year-over-year to 42.3 billion yen, despite continuing cost reduction.
Honda's consolidated sales revenue, however, increased 3.4 percent to 4.05 trillion yen from 3.91 trillion yen last year, driven by increased sales revenue at automobile and financial services business operations.
Looking ahead for the fiscal year ending March 31, 2020, the company projects attributable profit of 665 billion yen or 377.94 yen, a growth of 9 percent from the previous year.
Operating profit would grow 6 percent from last year to 770 billion yen, while sales revenue is expected to drop 1.2 percent to 15.70 trillion yen.
Further, the company said its fourth quarter dividend is 28 yen per share, and the total annual dividend for the fiscal year 2019 is 111 yen per share. The Company expects to distribute quarterly cash dividends of 28 yen per share for each quarter for the fiscal year ending March 31, 2020.
As a result, total cash dividends for the fiscal year ending March 31, 2020 are expected to be 112 yen per share.
In Japan, Honda Motor shares traded at 2,990 yen, down 2.84 percent.
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