Toyota Motor (TM - Free Report) 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 - Free Report) , Volkswagen (VWAGY - Free Report) and General Motors (GM - Free Report) — 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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Toyota Motor (TM - Free Report) 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 - Free Report) , Volkswagen (VWAGY - Free Report) and General Motors (GM - Free Report) — 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.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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