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Nissan earnings beat estimates on more-profitable car sales - BNN Bloomberg

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Nissan first-quarter earnings beat estimates as the Japanese automaker dealt with supply-chain snarls and surging raw material costs by focusing sales on more profitable models.

Nissan Motor Co. first-quarter earnings beat estimates as the Japanese automaker dealt with supply-chain snarls and surging raw material costs by focusing sales on more profitable models. Yokohama-based company said in a statement Thursday. That topped analyst estimates of 48.9 billion yen, according to data compiled by Bloomberg. Sales rose to 2.14 trillion yen, compared with estimates of 2.02 trillion yen.

The maker of Pathfinder SUVs and Altima sedans maintained its forecast for operating profit of 250 billion yen this fiscal year, up slightly from the 247 billion yen operating profit posted in the year ended March 31. Chief Operating Officer Ashwani Gupta said on a call that the company is confident of meeting its targets.

The results give a “positive impression,” Bloomberg Intelligence analyst Tatsuo Yoshida said. “The effect of the company’s structural reform is gradually coming out,” he said. Barring any surprises, Nissan will likely raise its full-year guidance when it announces second-quarter earnings, he added.

 

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