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Toyota (TM) Q4 Earnings & Revenues Beat, FY22 View Upbeat

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·3 min read
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Toyota Motor TM posted fiscal fourth-quarter 2021 earnings of $5.18 per share, which handily surpassed the Zacks Consensus Estimate of $3.45 on higher-than-expected revenues. Moreover, the bottom line jumped from the year-ago earnings of 45 cents a share. Consolidated revenues came in at $72,564.3 million, beating the consensus mark of $70,780 million. The top-line figure also climbed 11.3% year over year.

Segmental Results

The Automotive segment’s net revenues for the fiscal fourth quarter increased 13.2% year over year to ¥7 trillion ($66.45 billion). Operating profit came in at ¥548.7 billion ($5.18 billion), up 64.3% year over year.

The Financial Services segment’s net revenues inched down 1.4% from the prior-year quarter to ¥541.1 billion ($5.1 billion). The segment registered an operating income of ¥97.9 billion ($0.92 billion), turning around from fourth-quarter fiscal 2020 loss of ¥15.1 billion.

All Other businesses’ net revenues improved 23.6% from the year-ago period to ¥346 billion ($3.3 billion) for the reported quarter. Further, operating income rose 6.5% year on year to ¥36.3 billion ($343 million).

Financial Position

Toyota had cash and cash equivalents of ¥3.3 trillion ($29.6 billion) as of Mar 31, 2021. Long-term debt amounted to ¥12 trillion ($108.9 billion). Operating cash flow for fiscal 2021 was ¥2,634.2 billion.

Fiscal 2021 Guidance Updated

Toyota — whose peers include Honda Motor HMC, Volkswagen VWAGY and General Motors GM — projects fiscal 2022 consolidated vehicle sales of 10.5 million units, indicating an increase from 9.9 million units sold in fiscal 2021. Sales are expected to total ¥30 trillion, implying a year-over-year increase of 10.2%. Operating income is now projected at ¥2.5 trillion, pointing to growth of 13.8% year over year. The company’s R&D expenses are likely to be ¥1,160 billion, suggesting an increase from ¥1,090 billion spent in fiscal 2021. Capex is envisioned at ¥1.35 trillion, indicating an increase from the ¥1.29 trillion spent in fiscal 2021.

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Honda Motor Co., Ltd. (HMC) : Free Stock Analysis Report
 
Toyota Motor Corporation (TM) : Free Stock Analysis Report
 
General Motors Company (GM) : Free Stock Analysis Report
 
Volkswagen AG (VWAGY) : Free Stock Analysis Report
 
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