Toyota Motor Earnings: 1Q Operating Income Beats Estimates with 94% Y/Y Increase

• Toyota reported a 94% year-on-year increase in operating income for the first quarter of 2023, totaling 1.12 trillion yen, beating analyst estimates of 880.32 billion yen.
• Net income for the quarter was 1.31 trillion yen, a 78% increase year-on-year, and higher than the analyst estimate of 764.25 billion yen.
• Net sales for the quarter totaled 10.55 trillion yen, a 24% increase year-on-year, and exceeding the analyst estimate of 9.84 trillion yen.
• Toyota is forecasting operating income of 3.00 trillion yen, net income of 2.58 trillion yen, and net sales of 38.00 trillion yen for the 2024 fiscal year, all of which were lower than the analyst estimates.
• Analysts have rated Toyota’s stock with 13 buys, 9 holds, and 1 sell.

A look at Toyota Motor Smart Scores

Toyota Motor Corporation has a long-term outlook that is looking very bright. Their Smartkarma Smart Scores indicate that they are well-positioned for value, dividend, and growth. With a value score of 4, dividend score of 3, and growth score of 3, they are showing strong indications of success. Furthermore, their momentum score of 5 reflects that they are well-positioned for long-term success.

Toyota Motor Corporation is a leading manufacturer, seller, leaser, and repairer of passenger cars, trucks, buses, and their related parts. They also offer financing services through their subsidiaries and are involved in the production of homes, pleasure boats, and intelligent transportation systems. With such a diverse portfolio and strong long-term outlook, Toyota Motor Corporation is well-positioned for success.

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