U.S. Markets open in 6 hrs 21 mins

Nissan (NSANY) Earnings Surpass Estimates in Q2, Decline Y/Y

Zacks Equity Research

Nissan Motor Co. NSANY delivered adjusted earnings per share (EPS) of 29 cents in second-quarter fiscal 2019, beating the Zacks Consensus Estimate of 12 cents. However, the bottom line declined from the year-ago quarter’s 63 cents.

The company’s revenues declined 2.93% year over year to $24.5 billion and missed the Zacks Consensus Estimate of $26.2 billion. Operating income fell year over year to $279.62 million.

Nissan Motor Co. Price, Consensus and EPS Surprise

 

Nissan Motor Co. Price, Consensus and EPS Surprise

Nissan Motor Co. price-consensus-eps-surprise-chart | Nissan Motor Co. Quote

Segmental Performance

Revenues at the Automobile segment fell 6.8% year over year to $22.3 billion in the reported quarter. Operating loss for the segment was $315 million.

Revenues at the Sales Financing segment fell 15.2% to $2.38 billion from the prior-year figure. Operating profit declined 6.94% to $574.8 million in second-quarter fiscal 2019.

Financials

Nissan had $10 billion of cash and cash equivalents as of Sep 30, 2019, compared with $11 billion as of Mar 31, 2019. It had long-term debt of $22.2 billion as of Sep 30, 2019, reflecting a decline from $22.9 billion as of Mar 31, 2019. The debt-to-capital ratio was 63.45%, as of Sep 30, 2019.

At the end of second-quarter fiscal 2019, the company’s cash flow from operations was $5.38 billion, up 11.3% from second-quarter 2018.

Dividend

Nissan’s board of directors announced a quarterly dividend of 9 cents per share payable on Nov 27, 2019

Guidance

For 2019, the Zacks Rank #3 (Hold) firm projects consolidated revenues of ¥10.6 billion, suggesting an 8.4% drop from the prior-year figure. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Operating income is estimated at ¥150 million, indicating a fall of 52.9% from 2018 levels. EPS of ¥28.11 is projected for 2019.

Earnings Roundup of Other Auto Giants

General Motors GM, Ford F and Honda Motor HMC also beat profit expectations in their last quarterly release.

General Motors posted adjusted EPS of $1.72 in third-quarter 2019, beating the Zacks Consensus Estimate of $1.18. Revenues of $35.4 billion surpassed the Zacks Consensus Estimate of $34.2 billion.

Ford delivered third-quarter 2019 adjusted EPS of 34 cents, beating the Zacks Consensus Estimate of 26 cents. Revenues of $33,931 million trumped the consensus estimate of $33,818 million.

Honda Motor posted earnings of $1.04 per ADR, surpassing the consensus mark of 91 cents in second-quarter fiscal 2020. The firm also reported revenues of $34,763 million, beating the Zacks Consensus Estimate of $34,286 million.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
General Motors Company (GM) : Free Stock Analysis Report
 
Ford Motor Company (F) : Free Stock Analysis Report
 
Nissan Motor Co. (NSANY) : Free Stock Analysis Report
 
Honda Motor Co., Ltd. (HMC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research