We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Toyota (TM) Falls 13.6% Since Q1 Earnings & Sales Beat
Read MoreHide Full Article
Shares of Toyota (TM - Free Report) have declined 13.6% since it released its fiscal first-quarter 2025 results on Aug 1. This Japan-based auto giant posted earnings of $6.35 per share, which surpassed the Zacks Consensus Estimate of $4.01 but declined from the year-ago earnings of $7.05 a share. Consolidated revenues came in at $75.9 billion, which beat the consensus mark of $72.5 billion but declined from $76.8 billion in the year-ago quarter.
Toyota had cash and cash equivalents of ¥7.59 trillion ($47.21 billion) as of Jun 30, 2024. Long-term debt was ¥22.19 trillion ($137.9 billion), up from ¥21.15 trillion as of Mar 31, 2024.
The Automotive segment’s net revenues for the fiscal first quarter increased 11% year over year to ¥10.76 trillion ($69.02 billion), outperforming our projection of ¥9.62 trillion. Operating profit came in at ¥1.11 trillion ($7.16 billion), rising from ¥945.6 billion generated in the year-ago quarter and exceeding our estimate of ¥1 trillion.
The Financial Services segment’s net revenues rose 30% from the prior-year quarter to ¥1 trillion ($6.45 billion). The metric outpaced our forecast of ¥796.6 billion. The segment registered an operating income of ¥159.7 billion ($1.02 billion), up from ¥147.3 billion in fourth-quarter fiscal 2023 and our estimate of ¥130.3 billion.
All Other businesses’ net revenues totaled ¥315.7 billion ($2.02 billion) in the reported quarter, rising from ¥306.4 billion in the comparable year-ago period but falling short of our projection of ¥345.6 billion. The unit generated an operating profit of ¥40.8 billion ($271 million), marking an improvement from ¥40.2 billion generated in the year-ago period but lagging our estimate of ¥44.2 billion.
FY25 Guidance
For fiscal 2025, Toyota projects total retail vehicle sales of 10.95 million units, indicating a decrease from 11.09 million units sold in fiscal 2024. Fiscal 2025 sales are expected to total ¥46 trillion, up from ¥45 trillion recorded in fiscal 2023. Operating income is projected to be ¥4.3 trillion, indicating a contraction of 19.6% year over year.
Pretax profit is estimated to be ¥5.07 trillion, implying a decline from ¥6.96 trillion generated in fiscal 2024. R&D expenses are envisioned to be ¥1.3 trillion, up from ¥1.2 trillion spent in fiscal 2024. Capex is forecast to be ¥2.15 trillion, signaling an uptick from ¥2.01 trillion spent in fiscal 2024.
Quarterly Releases of Other Legacy Automakers
General Motors (GM - Free Report) reported second-quarter 2024 results on Jul 23. It posted adjusted earnings of $3.06 per share, which surpassed the Zacks Consensus Estimate of $2.67. The bottom line also increased from the year-ago quarter’s level of $1.91. Solid results from the GMNA segment led to the outperformance. Revenues of $47.97 billion beat the Zacks Consensus Estimate of $44.94 billion and increased from $44.75 billion recorded in the year-ago period. General Motors had cash and cash equivalents of $22.5 billion as of Jun 30, 2024. The long-term automotive debt at the end of the quarter was $15.4 billion.
Ford (F - Free Report) reported second-quarter 2024 results on Jul 24. It posted adjusted earnings per share of 47 cents, which missed the Zacks Consensus Estimate of 64 cents and declined from 72 cents recorded in the year-ago quarter. The company’s consolidated second-quarter revenues came in at $47.8 billion, up 6.3% year over year.Ford had cash and cash equivalents of $19.95 billion as of Jun 30, 2024. Long-term debt, excluding Ford Credit, totaled $18.69 billion at the end of the second quarter of 2024.
Honda (HMC - Free Report) reported first-quarter fiscal 2025 results on Aug 7. Itreported earnings of $1.57, which surpassed the Zacks Consensus Estimate of $1.19. The bottom line, however, declined from the year-ago profit of $1.60 per share. Quarterly revenues totaled $34.7 billion, surpassing the Zacks Consensus Estimate of $33.7 billion. The top line also increased from $33.7 billion recorded in the year-ago period. HMC’s consolidated cash and cash equivalents were ¥4.98 trillion ($30.93 billion) as of Jun 30, 2024. Long-term debt was around ¥6.16 trillion ($38.3 billion) as of Jun 30, 2024, up from ¥6.06 trillion as of Mar 31, 2024.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Toyota (TM) Falls 13.6% Since Q1 Earnings & Sales Beat
Shares of Toyota (TM - Free Report) have declined 13.6% since it released its fiscal first-quarter 2025 results on Aug 1. This Japan-based auto giant posted earnings of $6.35 per share, which surpassed the Zacks Consensus Estimate of $4.01 but declined from the year-ago earnings of $7.05 a share. Consolidated revenues came in at $75.9 billion, which beat the consensus mark of $72.5 billion but declined from $76.8 billion in the year-ago quarter.
Toyota had cash and cash equivalents of ¥7.59 trillion ($47.21 billion) as of Jun 30, 2024. Long-term debt was ¥22.19 trillion ($137.9 billion), up from ¥21.15 trillion as of Mar 31, 2024.
TM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Toyota Motor Corporation Price, Consensus and EPS Surprise
Toyota Motor Corporation price-consensus-eps-surprise-chart | Toyota Motor Corporation Quote
Segmental Results
The Automotive segment’s net revenues for the fiscal first quarter increased 11% year over year to ¥10.76 trillion ($69.02 billion), outperforming our projection of ¥9.62 trillion. Operating profit came in at ¥1.11 trillion ($7.16 billion), rising from ¥945.6 billion generated in the year-ago quarter and exceeding our estimate of ¥1 trillion.
The Financial Services segment’s net revenues rose 30% from the prior-year quarter to ¥1 trillion ($6.45 billion). The metric outpaced our forecast of ¥796.6 billion. The segment registered an operating income of ¥159.7 billion ($1.02 billion), up from ¥147.3 billion in fourth-quarter fiscal 2023 and our estimate of ¥130.3 billion.
All Other businesses’ net revenues totaled ¥315.7 billion ($2.02 billion) in the reported quarter, rising from ¥306.4 billion in the comparable year-ago period but falling short of our projection of ¥345.6 billion. The unit generated an operating profit of ¥40.8 billion ($271 million), marking an improvement from ¥40.2 billion generated in the year-ago period but lagging our estimate of ¥44.2 billion.
FY25 Guidance
For fiscal 2025, Toyota projects total retail vehicle sales of 10.95 million units, indicating a decrease from 11.09 million units sold in fiscal 2024. Fiscal 2025 sales are expected to total ¥46 trillion, up from ¥45 trillion recorded in fiscal 2023. Operating income is projected to be ¥4.3 trillion, indicating a contraction of 19.6% year over year.
Pretax profit is estimated to be ¥5.07 trillion, implying a decline from ¥6.96 trillion generated in fiscal 2024. R&D expenses are envisioned to be ¥1.3 trillion, up from ¥1.2 trillion spent in fiscal 2024. Capex is forecast to be ¥2.15 trillion, signaling an uptick from ¥2.01 trillion spent in fiscal 2024.
Quarterly Releases of Other Legacy Automakers
General Motors (GM - Free Report) reported second-quarter 2024 results on Jul 23. It posted adjusted earnings of $3.06 per share, which surpassed the Zacks Consensus Estimate of $2.67. The bottom line also increased from the year-ago quarter’s level of $1.91. Solid results from the GMNA segment led to the outperformance. Revenues of $47.97 billion beat the Zacks Consensus Estimate of $44.94 billion and increased from $44.75 billion recorded in the year-ago period. General Motors had cash and cash equivalents of $22.5 billion as of Jun 30, 2024. The long-term automotive debt at the end of the quarter was $15.4 billion.
Ford (F - Free Report) reported second-quarter 2024 results on Jul 24. It posted adjusted earnings per share of 47 cents, which missed the Zacks Consensus Estimate of 64 cents and declined from 72 cents recorded in the year-ago quarter. The company’s consolidated second-quarter revenues came in at $47.8 billion, up 6.3% year over year.Ford had cash and cash equivalents of $19.95 billion as of Jun 30, 2024. Long-term debt, excluding Ford Credit, totaled $18.69 billion at the end of the second quarter of 2024.
Honda (HMC - Free Report) reported first-quarter fiscal 2025 results on Aug 7. Itreported earnings of $1.57, which surpassed the Zacks Consensus Estimate of $1.19. The bottom line, however, declined from the year-ago profit of $1.60 per share. Quarterly revenues totaled $34.7 billion, surpassing the Zacks Consensus Estimate of $33.7 billion. The top line also increased from $33.7 billion recorded in the year-ago period. HMC’s consolidated cash and cash equivalents were ¥4.98 trillion ($30.93 billion) as of Jun 30, 2024. Long-term debt was around ¥6.16 trillion ($38.3 billion) as of Jun 30, 2024, up from ¥6.06 trillion as of Mar 31, 2024.