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