Toyota Quarterly Profit Jumps 34%, Lifts Full-Year Forecast to 3.9 Trillion Yen

Toyota Motor’s operating profit rose 34% to 1.13 trillion yen in the July-September quarter, its first increase in six quarters, Reuters reported Thursday. Analysts polled by LSEG had expected 992 billion yen.

• Quarterly operating profit: 1.13 trillion yen, up 34%
• Six-month operating profit: 2.19 trillion yen, up 9.2%
• Six-month revenue: 26.96 trillion yen, up 9.5%, a record for the period
• Six-month net profit: 2.24 trillion yen, up 26.1%

The half-year figures for April through September were reported by The Asahi Shimbun.

Hybrids and the yen offset China

A weaker yen and strong demand for hybrid vehicles made up for falling sales in China and the Middle East, according to Reuters. In a preview of the results, Reuters reported that Toyota and Lexus sales of electrified vehicles in North America rose more than 30% to almost 430,000 in the quarter, while total U.S. sales volume grew less than 1%. The year-earlier quarter had been hit by U.S. tariff costs that were absent this time, Reuters said.

Higher forecast for the year

Toyota raised its operating profit forecast for the fiscal year ending in March to 3.9 trillion yen, about $24.6 billion, from 3.4 trillion yen, Reuters reported. It also lifted its net profit forecast to 3.57 trillion yen from 3.25 trillion yen, according to Nikkei Asia and The Asahi Shimbun. The company trimmed its full-year revenue outlook to 53.5 trillion yen from 54 trillion yen, Asahi reported.

Sources: Reuters, Nikkei Asia, The Asahi Shimbun.