Japanese Automobiles Company Honda Boosts FY24 Outlook: Here's Details
Portfolio Pulse from Lekha Gupta
Honda Motor Co Ltd (NYSE:HMC) reported a 17.1% Y/Y increase in Q2 FY24 sales revenue to ¥4.98 trillion. The company's Automobile business, Motorcycle business, and Financial Services business saw Y/Y revenue increases of 23.9%, 10.7%, and 3.2% respectively. Despite a decline in Motorcycle unit sales, Automobile unit sales rose. The company's operating profit and profit for the period attributable to owners of the parent also increased. Honda raised its FY24 sales outlook and lowered the outlook for unit sales. HMC shares are trading lower by 1.87% at $31.27.
November 09, 2023 | 2:40 pm
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Honda reported strong Q2 FY24 results with increased sales revenue and profits. However, the company lowered its outlook for unit sales. HMC shares are currently trading lower.
Honda's strong Q2 FY24 results and raised sales outlook indicate a positive financial performance. However, the lowered unit sales outlook could be a concern for investors, potentially leading to the current decrease in HMC's share price.
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