Archive for the ‘Earnings’ Category

Ghosn Affair Hits Nissan’s Bottom Line, Along with Weak Sales

Automaker downgrades future earnings forecast.

by on Feb.12, 2019

Nissan is taking an $83.2 million charge against earnings due to the scandal surrounding Carlos Ghosn.

Nissan Motor Co. warned that its earnings for the fiscal year ending March 31, could be about the lowest the carmaker has seen in six years.

Nissan now expects to earn 410 billion yen, or $3.7 billion, for the fiscal year, a 45% year-over-year decline. It originally projected a 500 billion yen, or $4.5 billion profit.

Global News!

The second-largest of the Japanese automakers put most of the blame on sliding sales in the U.S. and China, its two largest markets. But it also revealed that it has logged an $83.2 million charge related to the scandal that began with the arrest last November of its former Chairman Carlos Ghosn. (more…)

Daimler AG Profits Fall as Car, Van Division Sales Drop

Mercedes fails to meet last year's profit, sales marks.

by on Feb.08, 2019

Daimler AG Chairman Dieter Zetsche fields questions from the media during the company's annual earnings press conference.

Daimler AG said its fourth-quarter operating profit fell 22% as trade wars and ballooning costs for developing electric and self-driving cars took a bit out of the company’s profits.

The German automaker’s earnings before interest and tax or EBIT dropped to 2.67 billion euros in the fourth quarter, falling short of analyst expectations of 2.92 billion euros.

Financial News!

Mercedes-Benz said increased tariffs on vehicles imported from the United States to China and delivery stoppages for individual diesel models hit demand and resulted in weaker prices. (more…)

FCA Hourly Employees Getting $6K Profit-Sharing Checks

Fiat Chrysler employees have taken home $29K since 2009.

by on Feb.07, 2019

Fiat Chrysler's hourly employees will received $6,000 profit-sharing checks.

Hourly employees of Fiat Chrysler Automobiles N.V. will collect $6,000 from the FCA-United Auto Workers profit-sharing plan next month, the automaker announced after releasing its fourth quarter financial reports.

Based on the company’s 2018 financial performance, FCA US LLC announced today that it will make average profit-sharing payments to approximately 44,000 employees on March 8, 2019.

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With this payment, U.S. hourly employees have received on average more than $29,000 in profit sharing since 2009. (more…)

Toyota Profits Up in 3Q, But Miss Analysts’ Mark

Automaker cuts forecast for rest of year.

by on Feb.07, 2019

Toyota's Masayoshi Shirayanagi said the automaker is looking for ways to further cut costs.

Toyota Motor Co., Japan’s largest automaker, posted a profit of 676.1 billion yen, or $6.16 billion, for the third quarter, up from 673.64 billion yen in the same period a year earlier.

However, the result fell short of the street’s expectations of the 680.84 billion yen median of 10 analyst estimates compiled by Refinitiv.

Global News!

The automaker saw rising sales in Asia, particularly China, offset a decline in the company’s largest market: the United States. (more…)

Pickups, SUVs Push GM Profit Well Above Expectations

Automaker betting numbers will look even better as truck production ramps up in 2019.

by on Feb.06, 2019

GM reported stronger than expected earnings as Chairman and CEO Mary Barra continues to reshape the company.

General Motors handily beat Wall Street’s earnings forecast for the fourth quarter and full year a strong performance that reflects both booming truck demand and the payoff of shedding the company’s long-struggling European operations.

For the final quarter of 2018, GM delivered earnings of $1.43 a share — $1.40 after excluding special items. The consensus, according to Zacks Investment Research, was $1.24. For the full year, earnings came to $6.54 a share, well ahead of the consensus forecast of $6.29. After special charges, the figure dropped to $5.58 per share.

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GM’s overall $8.1 billion profit for all of 2018 was more than double the $3.9 billion number from the year before, but the 2017 figure reflected a significant hit from the sell-off of the company’s long-troubled European Opel-Vauxhall subsidiary. It was acquired by PSA Group, parent of the Peugeot and Citroen brands. (more…)

Ram Brings on Multifunction Tailgate for Pickups

New tailgate offers flexility, functionality -- and takes competition in the midsize truck market to a new level.

by on Feb.06, 2019

The 2019 Ram 1500 will have the Multifunction Tailgate. It will be available across all the 1500 models.

Call it the battle of the beds. The cargo beds, that is.

With the fight for market share in the lucrative pick-up truck market steadily escalating, Ford Motor Co., Fiat Chrysler Automobile N.V. and General Motors all have new or upgraded pickups ready for consumers that focus on features and functions that are heating up their traditional competition.

While some of the updates improve creature comfort, there’s a heavy emphasis on functionality, especially when it comes to both carrying — and accessing — cargo. Ram Truck, FCA’s truck brand, is unveiling a new tailgate for the Ram 1500 that it says will make it easier to use.

Breaking News!

“The Ram Multifunction Tailgate is intuitive to operate, and owners will find it immediately useful,” said Reid Bigland, head of Ram Brand – FCA. “Combined with Ram’s class-exclusive RamBox feature and new tailgate step, we’re taking Ram’s cargo management and storage to the next level.” (more…)

Chevrolet Amps Things Up in Heavy Duty War With Silverado HD Debut

“It’s a war” as automakers fight for dominance in the high-profit HD market.

by on Feb.05, 2019

Lead Designer Rick Scheer unveils the new 2020 Chevy Silverado HD line-up at the Flint, Michigan-plant that builds the trucks.

Chevrolet has become the latest in a string of brands to upgrade its entry into the booming, high-profit heavy-duty truck segment.

The 2020 Chevy Silverado HD made its official debut Tuesday at General Motors’ newly updated factory in Flint, Michigan. The oldest and longest continuously operated assembly plant in the GM network, the Flint factory underwent a $1.5 billion makeover to prepare for the launch of the new trucks.

Truck News!

While the U.S. new vehicle market is expected to slip slightly this year, there were few signs of concern among GM officials, the automaker’s President Mark Reuss declaring, “We are so bullish about our trucks this year … we predicted stronger-than-expected earnings in 2019.” (more…)

Recalls and Incentives Hammer Honda’s Earnings

Automaker also prepping for impact of Brexit on UK operations.

by on Feb.01, 2019

Honda COO Seiji Kuraishi said the automaker was making plans to deal with the issues surrounding Brexit.

Honda Motor Co.’s earnings tumbled 71% during the company’s fiscal third quarter, a downturn driven by relatively flat sales, retail incentives and a surge of airbag-related recalls.

Honda was one of the largest customers for airbags provided by Japanese supplier Takata. Defects can cause those components to explode during an accident, sending shrapnel into the passenger compartment. At least 23 people, most in the U.S., have been killed as a result of the defective bags.

Business News!

The third-largest of the Japanese automakers reported a profit of 168 billion yen for the quarter ending Dec. 31, or $1.5 billion. That was down from 570.3 billion yen a year earlier and fell well below analysts’ consensus forecast according to polling by Refinitiv. (more…)

With More Product Coming, Tesla CEO Musk Promises Good Earnings Even In a Global Recession

Musk outlines plans for Tesla Model Y, Semi and Pickup in hour-long earnings call.

by on Jan.31, 2019

Tesla's Elon Musk spent much of his time on a call with analysts and media painting a rosy picture for 2019.

Tesla’s weak fourth-quarter earnings failed to impress industry analysts and investors, despite an optimistic, hour-long presentation by CEO Elon Musk who promised that the battery-electric automaker is ready to deliver solid profits “even if there’s a global recession.”

Speaking to reports and analysts, Musk presented an upbeat vision that anticipates a huge surge in both production and demand for the Model 3 sedan, while noting that two other products, the Model Y SUV and battery-powered Semi will go into production in 2020. The 47-year-old entrepreneur fended off concerns that Tesla won’t be able to cover an upcoming bond payment of more than $900 million without seeking new equity.

News You Can Trust!

“2019 is going to be an amazing year for Tesla,” Musk said, later adding that he is “optimistic about being profitable in Q1. Not by a lot, but I’m optimistic about being profitable in Q1 and for all quarters going forward.” (more…)

Tesla Misses With Q4 Earnings, Raising New Concerns

Automaker plans to ramp up Model 3 output in bid for bigger earnings.

by on Jan.30, 2019

Tesla's Elon Musk said the company faced significant headwinds in the previous quarter and will continue to do so.

Tesla delivered its second consecutive quarterly profit on Wednesday, but hit by various headwinds, including weak sales in China, the world’s largest battery-car market, the numbers fell well below the Wall Street consensus forecast, triggering a pushback from nervous investors.

The automaker said it would push to boost production of its mainstream Model 3 battery-electric vehicle in the months ahead, but whether that can kick-start momentum remains uncertain, Tesla CEO Elon Musk earlier this week warning that the automaker faces a “very difficult” road ahead, something potentially complicated by a nearly $1 billion bond payment due near the end of the first quarter.

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Referring to 2018 as “the most pivotal year in Tesla’s history,” the automaker tried to put a positive spin on its Q1 results, noting that sales came in stronger than expected with strong revenues. But the initial response was far from upbeat, despite Tesla shares regaining some of the losses of recent weeks during the regular Wednesday trading session. (more…)

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