Honda raises full-year forecasts, posts first profit rise in six quarters

Honda raised its full-year forecasts after quarterly profit more than doubled, aided by a weaker yen and lower US tariff-related costs

Honda Motor raised its full-year forecasts on Wednesday and posted its first quarterly profit rise in six quarters, boosted by a weaker yen and the absence of US tariff-related  costs that weighed on earnings a year earlier. 

Japan’s second-biggest  automaker lifted its full-year operating profit forecast  by 30 per cent to 650 billion yen ($4.1 billion) from 500 billion yen, citing a revised exchange-rate assumption. It also raised its net profit and revenue outlooks. Operating profit more than doubled to 530.8 billion yen in the April to June quarter from 244.2 billion yen a year earlier, well above the 302.1 billion yen median estimate in an LSEG poll of nine analysts. The results come  after the it posted its first annual loss in nearly 70 years in May, hit by more than $9 billion in costs to restructure its EV business.