Toyota Q1 Net Profit Climbs, Volume Down; Lifts FY27 View; Plans Up To ¥1 Trln Buyback; Stock Down

(RTTNews) - Japanese auto major Toyota Motor Corp. reported Tuesday significantly higher net earnings in its first quarter, while operating income declined from last year with weak sales volume. Further, the firm upgraded fiscal 2027 outlook, still expecting weak earnings, but higher sales revenues and volume.

The company also announced share repurchase authorization of up to 1 trillion yen in open market purchases. Treasury stock of 200 million shares, or 1.37% of total number of issued shares, will be cancelled.

In Tokyo, the shares were losing around 1.91 percent, trading at 2,907.00 yen.

Looking ahead for the full year ending March 31, 2027, the company now expects attributable profit of 3.25 trillion yen or 272.17 yen per basic share, down 15.5 percent from last year; and operating income of 3.40 trillion yen, down 9.7 percent year-over-year.

The company previously projected attributable profit of 3 trillion yen or 251.25 yen per basic share, down 22 percent from last year; and operating income of 3 trillion yen, down 20.3 percent year-over-year.

Sales revenues, however, are now expected to grow 6.5 percent from last year to 54 trillion yen. The previous outlook was sales revenues of 51 trillion yen, up 0.6 percent year-over-year.

The company said the upward revision in outlook reflects changes in the external environment such as foreign exchange assumptions, as well as marketing efforts including the establishment of alternative logistics routes to the Middle East.

Meanwhile, the impact of the 2026 Kumamoto Earthquake is currently under assessment and has not been reflected in the forecast.

Consolidated vehicle sales for the year is now projected to be 9.70 million units, higher than 9.60 million units expected earlier, and above prior year's 9.595 million units.

In the first quarter, net profit attributable to owners of parent was 1.477 trillion yen, up 75.6 percent from 841.35 billion yen in the same period a year ago. Profit per share was 120.69 yen, compared to 64.56 yen last year.

Operating income, meanwhile, dropped 8.8 percent to 1.06 trillion yen from 1.17 trillion yen a year ago.

Sales revenues for the period rose 10.4 percent to 13.525 trillion yen from 12.253 trillion yen last year.

In the quarter, consolidated vehicle sales were 2.395 million units, down from 2.411 million units last year.

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