Honda's Q3 Operating Profit Plummets 61%, Missing Estimates Amid Tariff Woes and Weak EV Demand

Stock News02-10

Honda (HMC.US) reported on Tuesday that its third-quarter operating profit fell 61.4% year-over-year, marking the fourth consecutive quarterly decline. The drop was attributed to U.S. import tariffs and sluggish demand for electric vehicles. Japan's second-largest automaker after Toyota (TM.US) posted an operating profit of 153.4 billion yen (approximately $987.07 million) for the quarter, falling short of the average analyst forecast of 174.5 billion yen compiled by LSEG. In the same period last year, the company reported an operating profit of 397.3 billion yen.

The automaker maintained its full-year operating profit forecast of 550 billion yen for the fiscal year ending March 2026, which is lower than the 1.21 trillion yen achieved in the previous fiscal year. Honda stated that its automobile business recorded an operating loss during the first nine months of the current fiscal year. Third-quarter revenue declined 3.4% to 5.34 trillion yen.

Honda has faced significant challenges due to weak vehicle sales, high U.S. tariffs, and intensifying competition from China. However, strong demand for hybrid vehicles and robust profitability in its motorcycle division have partially offset the downturn. The company raised its full-year net sales forecast to 21.10 trillion yen, up from a previous projection of 20.70 trillion yen.

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