Toyota Motor misses on bottom line; beats on top; reaffirms unit sales for FY14
Reports Q2 EPS of JPY138.35 vs JPY144.9 CIQ est; revs increased 15% YoY to JPY6.28 trln vs JPY6.24 trln CIQ est. Consolidated vehicle sales for H1 totaled 4,467,761 units, a decrease of 48,425 units.
Regional In Japan, vehicle sales totaled 1,101,206 units, a decrease of 90,724 units compared to the same period last fiscal year. Operating income from Japanese operations increased by 579.1 billion yen to 830.0 billion yen.
In North America, vehicle sales totaled 1,298,044 units, an increase of 37,316 units. Operating income decreased by 20.3 billion yen to 162.3 billion yen, including a loss of 23.2 billion yen of valuation gains/losses from interest rate swaps. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 31.0 billion yen to 185.5 billion yen.
In Europe, vehicle sales totaled 406,934 units, a decrease of 5,232 units, while operating income increased by 13.3 billion yen to 25.4 billion yen.
In Asia, vehicle sales totaled 779,586 units, a decrease of 60,279 units, while operating income increased by 1.1 billion yen to 195.6 billion yen.
Outlook: Co maintains the estimate it announced in August this year that its consolidated vehicles sales for the fiscal year ending March 31, 2014 will be 9.1 million units. In addition, co forecasts: consolidated net revenue of JPY25 trln vs JPY25.3 trln operating income of JPY2.20 trln net income of JPY1.67 trln Guidance is based on an exchange rate of 97 yen to the U.S. dollar and 130 yen to the euro.