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News and Information about earnings
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Toyota Motor Corp.’s 5-percent drop in its fourth fiscal quarter ended March 31, 2014 was affected by $1.2 billion in payment to settle unintended acceleration. That payment, coupled with other one-time charges like costs for terminated manufacturing operations in Australia, hurt its earnings by $2.17 billion.
The carmaker actually posted a 6-percent surge in retail sales in the period to 2.58 million units and a 13-percent jump in global revenues to $63.9 billion in the three months. Toyota, however, posted a 5-percent drop in net income to JPY297 billion ($2.89 billion).
Toyota posted a 9-percent drop in fourth-quarter profits in North America to $498.1 million, despite logging a 6-percent surge in retail unit sales to 581,261 vehicles. The meltdown in earnings in its fourth fiscal quarter failed to stop Toyota from reporting a record operating and net profits.Read the entire article Safety issue settlement contributed to drop in Q4 2013 earnings at Toyota
Analysts are expecting Tesla Motors Inc. to post lower earnings in the first quarter of 2014 as it sales were hit by the decline of clean-car credit sales in California as well as by constraints in battery supply. According to the average estimate of 10 analysts polled by Bloomberg, Tesla may log earnings of 7 cents a share, excluding some items.
Tesla earned 12 cents a share on the same basis in the same period in 2013, boosted by higher sales of California zero-emission vehicle credit and savings from its early repayment of a federal loan. Analysts, however, expect Tesla to post a loss using GAAP as basis.
On that basis, Tesla managed to cut its net loss to $74 million in 2013 from $396 million in 2012. The carmaker also saw its revenues surge 387 percent to $2 billion in 2013 from $413 million in 2012. That surge is not expected in the first quarter of 2014.Read the entire article Tesla Motors is expected to post lower earning in first quarter of 2014
BMW Group saw its earnings before interest and taxes in the first quarter of 2014 surge 3 percent EUR2.09 billion ($2.9 billion), with revenue growing 4 percent to EUR18.2 billion. BMW chief executive Norbert Reithofer said in a statement remarked that the Group has made a strong start to the year with new record first-quarter figures.
Its namesake BMW brand logged a 12-percent rise in first-quarter deliveries, allowing it to retain its lead in global luxury sales. Rivals Audi and Mercedes-Benz are both aiming to top BMW as the best-selling luxury carmaker by 2020. BMW’s growth in the first quarter of 2014 was boosted by strong demand for its SUVs.
Its X1 surged 15 in the quarter; X3 by11 percent; and X5 by 14 percent. BMW confirmed its target of a significant pretax profit this year, as propelled by the 4-series Gran Coupe and the 2-series compact hatchback. Reithofer remarked that BMW is aiming for a new record group profit before tax figure that is significantly higher than in 2013.Read the entire article BMW Group logs 3 percent gain in first quarter of 2014
American Axle & Manufacturing Holdings Inc. posted $33.6 in income million on $858.8 million in revenues in the first quarter of 2014, compared with $7.3 million in earnings on $755.6 million in revenues in the same period in 2013.
American Axle still has General Motors Co. as its largest customer for, but business with other carmakers surged 53 percent to $287.8 million in the first three months of 2014, as it benefited from new Jeep Cherokee and Ram pickup.
Non-GM customers for the period accounted for over 38 percent of its revenues. The supplier’s content-per-vehicle dollar value hiked 10 percent to $1,655 in the first quarter of 2014 from $1,504 in the same period in 2013.Read the entire article American Axle earns $33.6 million in first quarter of 2014
Daimler AG posted a 95-percent surge in earnings before interest and taxes (EBIT) in the first quarter of 2014 to EUR1.79 billion ($2.47 billion) from EUR917 million in the same period in 2013. Adjusted EBIT from ongoing business more than doubled to EUR2.07 billion from EUR949 million. First-quarter revenue also jumped 13 percent to EUR29.5 billion despite unfavorable exchange rates.
Daimler chief executive Dieter Zetsche remarked that the carmaker was off to good start in 2014, and as the year progresses, the company will continue working systematically on its profitable growth path.
Daimler’s Mercedes cars division more doubled its return on sales from ongoing operations to 7 percent in the first quarter of 2014, thanks to the arrival of new models like the A- and B-class, GLA and CLA compact cars as well as its flagship S class. According to Daimler, it targets to hike the figure to 10 percent in the medium term.Read the entire article Daimler logs 95% rise in EBIT in first quarter of 2014 thanks to compact Mercedes-Benz models
BMW Group declared a surprise hike in earnings before interest and taxes in the fourth quarter of 2013 to EUR1.95 billion ($2.72 billion) from EUR1.87 billion in the same period in 2012. The figure topped the EUR1.83 billion average of 10 analyst estimates as surveyed by Bloomberg. BMW saw its fourth-quarter revenue drop 2 percent to EUR20.2 billion.
"We forecast further sales volume growth in the current year which will again bring us a new all-time high," BMW chief executive Norbert Reithofer said in a statement. BMW is pouring more investments in technology and expanding production to stave off challenges posed by rivals Audi and Mercedes-Benz, which are both aiming to take the luxury-sales title by 2020.
The race is stiffening after Audi outsold the BMW brand in the first two months of 2014, while the Mercedes brand outgrown its two larger rivals in recent months. Automotive earnings for the BMW Group – including the BMW, Mini and Rolls Royce brands – dipped to 9 percent of sales in the fourth quarter from 11 percent in the same period a year ago.Read the entire article BMW Group hikes 4th quarter EBIT to EUR1.95 million
The Volkswagen Group posted an 18-percent surge in earnings before interest and taxes (EBIT) in the fourth quarter of 2013 to EUR3.11 billion ($4.27 billion), thanks to record sales at its Audi and Porsche brands that countered investments on new models development and production expansion. The figures were based on Bloomberg calculations using the VW’s full-year and nine-month results.
VW expects its operating profit margins to be between 5.5 percent and 6.5 percent for 2014. The carmaker’s revenue is expected to “move within a range of 3 percent” from a year ago, with sales hiking “moderately.” “Challenges for the Volkswagen group will come from the difficult market environment and fierce competition, as well as interest rate and exchange rate volatility and fluctuations in raw materials prices,” VW said in a statement.
Volkswagen is planning to spend EUR84.2 billion through 2018 as it attempts to become the largest carmaker in the world, surpassing Toyota Motor Corp. VW sees an expansion in the United States as vital to that bid. VW’s fourth quarter profit missed the EUR3.17 billion average of 11 analyst estimates surveyed by Bloomberg.Read the entire article Volkswagen logs 18% rise in EBIT in 4th quarter 2013 thanks to Audi, Porsche
Valeo posted a 16-percent surge in earnings before interest, taxes and other expenses in the second half of 2013 to EUR411 million ($563 million), thanks to higher demand for cars in China and North America as well as improvements in the European vehicle market. It exceeded the EUR375 million average of three analyst estimates surveyed by Bloomberg.
Valeo also logged a 3-percent rise in revenue EUR5.94 billion. Valeo is focusing on technology that promotes safety, comfort and pollution reduction to hike its profitability. The supplier was able to match a goal of a "slight increase" in 2013 earnings as a proportion of sales thanks to surging demand from German and Asian customers.
"Our strong cash generation and financial position will help us prepare for the expected sharp growth in sales, particularly in 2015 and 2016," chief executive Jacques Aschenbroich said in the statement. He expressed confidence that Valeo's strategy focused on innovation and on developing its businesses in fast-growing production regions will enable them to continue delivering margin growth that is in line with their medium-term financial objectives.Read the entire article Valeo hikes second-half earnings by 16% to EUR411 million
Daimler logged a 45-percent increase in earnings before interest and taxes in the fourth quarter of 2013 to EUR2.53 billion ($3.42 billion), thanks to strong demand for the new Mercedes-Benz CLA and revamped S-class flagship sedan. The carmaker posted a 7.6-percent rise in revenues to EUR32.1 billion in the period.
Daimler expects to log a "significant" hike in 2014 operating profit from continuing operations as boosted by strong demand for the new GLA compact SUV and redesigned C-class sedan, which will be rolled out in Europe this spring.
The carmaker saw its vehicle sales grow faster than Audi in the final months of 2013 and in the whole year against BMW. Daimler chief executive Dieter Zetsche is aiming to have Mercedes retake the crown as the best-selling luxury car brand by 2020.Read the entire article Daimler posts 45% surge in EBIT in 4th quarter of 2013
Fiat expects to post a drop in its earnings in the first quarter of 2013, but confirms its full-year forecast for gains in trading profit, or earnings before interest, taxes and one-time gains or costs. The expected drop in first-quarter earnings comes as Chrysler Group's Jeep brand suffered a sales slump in the US while car demand in Europe continues to fall.
Sergio Marchionne, chief executive of both Fiat and Chrysler, remarked that while the first quarter would not be a “great” one, the important thing is that they are confirming their 2013 targets. Marchionne remains pessimistic of the situation in Europe, saying that there is no certainty when sales crisis in the region will end.
Marchionne is banking on Chrysler to prop up Fiat’s earnings as he tries to cut losses at the carmaker’s volume brands in Europe, which already worsened to over EUR700 million ($912 million) in 2012. Fiat would have logged EUR1.04 billion in losses in 2012 if not for Chrysler. The Italian carmaker is planning to hike its trading profit to up to EUR4.5 billion in 2013 from EUR3.81 billion in 2012.Read the entire article Fiat expects drop in earnings in first quarter of 2013
Even German auto companies are falling victim to the financial difficulties in Europe. German carmaker Volkswagen is expected to post its steepest quarterly earnings decrease since 2009. Meanwhile, Daimler is reducing costs to aid the decreasing profit at Mercedes-Benz, implying that German automakers aren’t anymore immune to the problems in Europe.
VW, Daimler and BMW have not anymore been able to totally evade the dropping European auto demand by moving cars to China and other markets, as the effects of austerity started to be felt beyond Italy, Spain and Portugal. Stefan Bratzel, director of the Center of Automotive Management at the University of Applied Sciences in Bergisch Gladbach, Germany, said that the European crisis has certainly affected the Germans.
In 2013, as the region's market continues to decline, the problems for German manufacturers will begin to really kick in. Volkswagen, which will post its earnings for the third quarter on Oct. 24, is predicted to report an operating profit of EUR2.3 billion ($3 billion) for the period, according to a Bloomberg survey of six analysts. This stands for a 21 percent drop from the same period in 2011.Read the entire article Volkswagen expected to post steepest quarterly earnings decrease since 2009
The BMW Group posted a 19-percent drop in earnings before interest and taxes for the second quarter of 2012 to EUR2.27 billion from EUR2.8 billion in the same period in 2011. The company, however, logged a 7.3-percent increase in sales to EUR19.2 billion. The company’s carmaking division posted a 16-percent dive in EBIT to EUR2.02 billion, with the margin at 11.6 percent of sales.
BMW has similar margins with Volkswagen's Audi division, while Daimler's Mercedes-Benz has margins of 8.6 percent. While the European market continues to be sluggish, BMW also pointed out the "intense market competition," referring to increasing incentive levels.
According to David Arnold and Arndt Ellinghorst, analysts at Credit Suisse Group, the German luxury carmaker is probably struggling with "increasingly unfavorable" car pricing. BMW chief executive Norbert Reithofer said in a statement that they are monitoring developments in various markets very closely. He added that the BMW group has a flexible production network, and that the premium car manufacturer is focused on maintaining profitable growth.Read the entire article BMW’s 2Q earnings before interest and taxes (EBIT) are lower by 19%
BMW has achieved earnings for the first quarter that surpassed even the most optimistic estimates of analysts. The company has benefited from the leap of sales of its most expensive sedan as well as from the strong demand in the United States and China.
Specifically, the company's EBIT or earnings before interest and taxes increased almost 19% from 1.8 billion euros on the same quarter last year to 2.13 billion euros or $2.80 billion, a great portion of which comes from its core vehicle business where EBIT as a percentage of revenue dropped a little to 11.6%. This is close to the 10.7% estimate made by analysts. Meanwhile, sales increased 14% to 18.3 billion euros, fueled by the surging sales of high margin automobiles such as its SUV lineup and the 7 series flagship sedan.
CEO Norbert Reithofer revealed that the BMW Group intends to "grow faster than the market as a whole" in 2012 and expects to hit new sales volume records for the Mini, Rolls-Royce and BMW brands.Read the entire article BMW reveals first-quarter earnings rising nearly 19% to 2.13 billion euros
Daimler recorded 4.9 percent increase in its earnings before interest and taxes from EUR2.03 billion in the first quarter of 2011 to EUR2.13 billion for the same period this year. The company also posted a 9.2 rise in overall revenues to EUR27 billion, thanks to record sales in March. Also, the German company’s strong performance in the January-March 2012 fiscal period was strongly attributed to the record-breaking feat of its luxury car unit, Mercedes-Benz.
Daimler’s first quarterly profit was significantly higher than the EUR1.94 billion average estimate of eight analysts surveyed by Bloomberg News. Because of Daimler’s positive results, chief executive Dieter Zetsche reconfirmed the full-year goals of expanding sales as well as matching its EUR9 billion operating profit for continuing operations in 2011.
Zetche has been describing 2012 a transition year for meeting profitability targets for 2013. In a statement, Zetsche remarked that Daimler was able to begin 2012 with a strong first quarter, despite higher investment in future growth and a challenging market environment. During the first quarter, the margin for the Mercedes-Benz car brand dived by around 90 basis points to 8.4 percent.Read the entire article Daimler logs 2.13 billion euros for first quarter of 2012
In the fourth quarter of 2011, the pretax operating earnings of Ford Motor Co. dropped by 15% to $1.1 billion. This is partly because of the increasing losses in Europe as the automaker had attained an annual net profit for the third time in a row. Its quarterly automotive profits suffered due to higher commodity costs, increasing compensation costs in North America such as a one-time ratification bonus related to Ford's new contract with the United Auto Workers union, and poor exchange rates.
The company posted a profit in the past year but it then incurred losses in its Asia Pacific Africa region. Its net income in the fourth quarter rose to $13.6 billion from $190 million a year ago.
It is the highest fourth quarter that Ford has ever had, helped by a one-time accounting gain. The revenue for the October-December period climbed by 6% to $34.6 billion. In a statement, Ford CEO Alan Mulally said that even with the persistent uncertainty in the external environment, the strength of its North American and Ford Credit operations enable it to continue investing for future growth.Read the entire article Ford reported a $1.1 billion pretax operating earnings in fourth quarter of 2011
Takanobu Ito, president of Honda Motor Co., forecasts that the company will achieve record earnings in at least five years, driven by sales of Civic compacts and Accord sedans in North America. Ito also forecasts that the company’s operating income in the year ending March 2013 will track back to levels before the September 2008 failure of Lehman Brothers Holdings Inc. Six months before Lehman’s bankruptcy filing in 2008, Honda posted record annual profits.
"It will be the year of the complete rebound," said Ito, adding that he expects sales to climb above 4 million units for the first time in 2013. Ito said Honda’s recovery will be led by sales in North America as the company prepares to roll out a fully revamped Accord in the fall.
Ito's forecasts are well above analyst estimates compiled by Bloomberg, reflecting the renewed confidence by Japanese carmakers as they recover from the disaster-ridden 2011, with natural tragedies hitting Japan and Thailand. According to estimates compiled by Bloomberg, Honda's operating income will probably double to 586.6 billion yen ($7.6 billion) next fiscal year after dropping 52%.Read the entire article Honda president Takanobu Ito expects record earnings in five years
Continental AG’s finance chief, Wolfgang Schaefer, told Reuters that the company anticipates increasing raw material prices to ease in 2012 as the global demand for cars decline. After the automotive supplier reported third-quarter results last Thursday, Schaefer said that it’s possible that there will be a slight increase in automobile production next year but that it now expects “stagnation."
In the third quarter of 2011, the group had a 53 percent increase in its adjusted earnings before interest and taxes (EBIT) to EUR743.7 million ($1.0 billion). This is higher than the EUR713 million average estimate in a Reuters poll.
Continental confirmed that its outlook for the full year after its third-quarter earnings had beat consensus. The company had anticipated sales of at least EUR29.5 billion and an adjusted operating profit margin of around 10 percent.Read the entire article Continental says its third-quarter earnings jumped 53 percent to 743.7 million euros
Volkswagen AG disclosed that its third-quarter operating earnings increased 46%, thanks to the demand for VW brand's Tiguan SUV and Audi's refurbished A6 sedan. Operating profit climbed to 2.89 billion euros or $4.05 billion from 1.99 billion euros last year, the company disclosed in its website. Revenue increased 25 % to 38.5 billion euros.
VW is expanding in the U.S. and China in an attempt to rise above Toyota Motor Corp. and replace it as the largest automaker in the world. VW is aiming to increase deliveries of SUVs, vans and cars by 11 percent this year to a record 8 million units.
The company plans to expend a record 62.4 billion euros within the next five years on models, facilities, and R&D to underpin its worldwide expansion. VW wants to employ at least 50,000 workers through 2018 as it aims for at least 10 million automobiles annually. Marc-Rene Tonn, an M.M. Warburg analyst recommending purchasing VW stock, confirmed that VW continues to perform "well in an increasingly challenging market place."Read the entire article Volkswagen’s third-quarter operating earnings increased 46%
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