Honda Motor Co., Ltd. (HMC:NYSE) announced its consolidated financial results for the fiscal first half year ended September 30, 2024

Rhea-AI Summary

Honda Motor reported its fiscal first half-year results ending September 30, 2024, with an operating profit of 742.6 billion yen and a 6.9% operating margin. Automobile sales increased by 64,000 units globally, driven by ICE/HEV models and EV sales in North America, though group unit sales decreased by 155,000 units due to lower China sales. Motorcycle business showed strong performance, reaching 10 million units in Q2. The company maintains its fiscal year forecast with operating profit at 1,420.0 billion yen, despite increased EV incentives in North America. Honda announced an interim dividend of 34 yen per share and approved an additional 100 billion yen share buyback.

Positive

• Operating profit reached 742.6 billion yen with 6.9% margin
• Automobile sales increased by 64,000 units globally
• Motorcycle business achieved strong 10 million unit sales in Q2
• Additional 100 billion yen share buyback approved
• Operating cash flow maintained at 1.28 trillion yen

Negative

• Group unit sales decreased by 155,000 units due to China market decline
• Increased incentive costs for EV sales in North America
• Profit forecast reduced by 50 billion yen due to decreased equity method investments

TOKYO, Nov. 6, 2024 /PRNewswire/ -- Honda Motor Co., Ltd. today announced its consolidated financial results for the fiscal first half year ended September 30, 2024.

Six Months Ended September 30, 2024 (Apr. – Sep.)

• Total Profit: Operating Profit 742.6 bil. yen / Operating Margin 6.9%
• In automobile business operations, consolidated unit sales increased by 64 thousand units mainly due to strong sales of ICE / HEV models and start of full-scale EV sales in North America from the same period of the previous year. Group unit sales decreased by 155 thousand units mainly due to the decrease in sales in China.
• In motorcycle business operations, global sales remained strong, achieving a total of 10 million units for the cumulative second quarter.
• The operating cash flow after R&D adjustment remained at the same level as the same period last year at 1 trillion 285.1 billion yen.

Financial Forecast for FYE March 31, 2025 

• Total Profit: Operating Profit 1,420.0 bil. yen / Profit for the year 950.0 bil. yen
• Although operating profit has been affected by an increase in incentive for EV sales in North America, it remains unchanged from our previous forecast* mainly due to the recovery in motorcycle business.
• Profit for the year decreased by 50 bil. yen from our previous forecast* mainly due to the decrease of share of profit of investments accounted for using the equity method.
  *Previous forecast: announced on August 7

Returning profit to shareholders

• The interim dividend were set at 34 yen.
• The annual dividend will be 68 yen. (unchanged from our previous forecast*)  
• The Board of Directors has approved acquisition of the Company's own shares of 100.0 bil. yen, in addition to the 300.0 bil. yen share buyback resolution made on May 10.

Honda's financial results can be accessed from following web site address.
https://global.honda/en/investors/library/documents.html

SOURCE: Honda Motor Co., Ltd

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SOURCE Honda Motor Co., Ltd.

FAQ

What is Honda's (HMC) operating profit for first half of fiscal 2024?

Honda reported an operating profit of 742.6 billion yen with a 6.9% operating margin for the fiscal first half-year ended September 30, 2024.

How many motorcycle units did Honda (HMC) sell in Q2 2024?

Honda's motorcycle business achieved strong global sales, reaching 10 million units for the cumulative second quarter of fiscal 2024.

What is Honda's (HMC) dividend and share buyback plan for 2024?

Honda announced an interim dividend of 34 yen per share (annual 68 yen) and approved an additional 100 billion yen share buyback, on top of the 300 billion yen buyback announced in May.

What is Honda's (HMC) operating profit forecast for fiscal year 2025?

Honda maintains its operating profit forecast at 1,420.0 billion yen for the fiscal year ending March 31, 2025.