Toyota Motor (TM) Q1 Earnings And Revenues Beat Estimates
Zacks Investment Research | Aug 05, 2019 08:32AM ET
Toyota Motor Corporation’s (NYSE:TM) earnings were $4.32 per ADR in first-quarter fiscal 2020 (ended Jun 30, 2019), up from $4.08 in the year-ago quarter. Earnings beat the Zacks Consensus Estimate of $3.89. This Japan-based automaker delivered net income of ¥682.9 billion ($6.2 billion) in the quarter under review, up from ¥657.3 billion ($6 billion) in the year-ago period.
Toyota Motor’s total net revenues rose to $69.5 billion (¥7.65 trillion) from the year-ago quarter’s figure of $67.5 billion (¥7.36 trillion). The figure surpassed the Zacks Consensus Estimate of $67.9 billion.
In first-quarter fiscal 2020, consolidated vehicle sales went up to 2,303,495 units, up 67,364 units from the prior-year quarter’s level. The automaker witnessed a decline in vehicle sales across North America and Other regions (consisting of Central and South America, Oceania, Africa as well as the Middle East). However, sales in Japan, Europe and Asia rose from the year-ago quarter’s tally.
Segmental Results
All figures mentioned below are U.S. GAAP-based.
The Automotive segment’s net revenues rose to ¥6.9 trillion ($62.7 billion) in first-quarter fiscal 2020 from ¥6.6 trillion ($61 billion) in the prior-year quarter. Operating income increased to ¥621.4 billion ($5.6 billion) from the year-ago quarter’s figure of ¥602.5 billion ($5.5 billion).
The Financial Services segment’s net revenues rose to ¥547.7 billion ($4.9 billion) in the quarter under review from ¥516.8 billion ($4.7 billion) in the prior-year quarter. The segment’s operating income was ¥108.2 billion ($983.5 million), up from ¥73.5 billion ($674 million) recorded in the first quarter of fiscal 2019.
All Other businesses’ net revenues increased to ¥370.6 billion ($3.4 billion) in the quarter under review from ¥358 billion ($3.3 billion) in the prior-year quarter. Further, operating income increased to ¥13.7 billion ($124.5 million) from the year-ago quarter’s level of ¥11.4 billion ($104.5 million).
Toyota Motor Corporation Price, Consensus and EPS Surprise
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