Honda Motor Co., Ltd. (HMC) Earnings
Honda Motor Co., Ltd. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $0.72. HMC has beaten EPS estimates in 7 of its last 11 reported quarters (average surprise +44.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-5.74 | $-4.24 | +26.2% | $36.8B | +11.6% |
| Nov 7, 2025 | $0.68 | $0.60 | -11.6% | $35.3B | -1.9% |
| Jun 18, 2025 | — | $0.14 | — | $36.9B | — |
| Feb 13, 2025 | $0.94 | $1.31 | +39.4% | $35.2B | -0.3% |
| May 10, 2024 | $0.44 | $0.99 | +125.0% | $35.8B | -0.8% |
| Feb 9, 2024 | $0.85 | $1.06 | +24.7% | $38.5B | +7.1% |
| Nov 9, 2023 | $0.69 | $1.07 | +55.1% | $33.4B | -2.2% |
| May 11, 2023 | $0.61 | $0.51 | -16.4% | $33.1B | -2.3% |
| Feb 10, 2023 | $0.95 | $1.02 | +7.4% | $34.2B | +2.8% |
| Nov 9, 2022 | $0.91 | $0.80 | -12.1% | $29.4B | +0.5% |
| Aug 10, 2022 | $0.79 | $0.67 | -15.2% | $28.2B | +2.6% |
| May 13, 2022 | $0.57 | $0.63 | +10.5% | $31.7B | +2.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2026 · March 12, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
First, reassess the allocation of resources previously focused on EV business and shift towards introducing new hybrid models in the second half of the 2020s to improve immediate profitability and strengthen the automobile business foundation. For EVs, maintain investment discipline for long - term groundwork. In the US market, plan to introduce new hybrid models in the second half of the 2020s, apply next - generation hybrid system to key models from 2027, expand HEB lineup in D or larger segments, and apply next - generation ADAS. In the Japanese market, start full - fledged application of next - generation hybrid system from 2027 and introduce next - generation ADAS matching Japanese conditions. In India, discuss various initiatives to strengthen the automobile business. In China, enhance intelligent electrification application and build competitive supply chain. Transform manufacturing operations to shorten development period, improve production efficiency, and strengthen supply chains. Tighten investment criteria based on earnings and make more disciplined decisions from a financial perspective.
Guidance
Honda expects consolidated earnings to bottom out in the fiscal year ending March 31, 2026 and March 31, 2027. Excluding the impact of one - off losses, operating profit is estimated to remain at the level of ¥1 trillion. Positive effects from introducing new models in the US and next - generation hybrid models globally can be expected from the fiscal year ending March 2028 onward, and will steadily regain the inherent earnings power of the automobile business.
Segment performance
Honda anticipates recording impairment and write - off losses on tangible and intangible assets for EV model production, with a maximum total of 2.5 trillion yen. Approximately 1.3 trillion yen will be recorded as an addition to the fiscal year forecast announced on February 10th, with breakdowns including operating losses of 820 billion to 1.12 trillion yen and losses from equity method investments in China and other regions of 110 billion to 150 billion yen, and the remaining 1.2 trillion yen of losses are planned to be recorded mostly in the next fiscal year ending March 31, 2027.
Risks & headwinds
In the US, easing of environmental regulations and discontinuation of EV incentives slow EV market growth. Competitors in China and ASEAN launch products faster than expected, posing strong competition. Honda is unable to deliver products with better value for money, resulting in a decline in competitiveness. Newly imposed tariffs lead to a decline in profitability of gasoline and hybrid models.
Analyst Q&A
Q: As of Honda, it's the largest deficit since being listed, about management responsibility and revision of 2040, 100 percent EV target;
A: Responsibility lies with Mibe, 2040 target may be reassessed and new strategy will be presented in May.
Q: About discontinuing development of three models;
A: Market changes like EV market slowdown in US led to the decision, Zero Alpha will continue as it targets markets like India and Japan.
Q: About shortening production and development period in China;
A: Details will be explained in May regarding measures to compete against new players.
Q: About Honda Zero Series;
A: Development of two models in North America is canceled, but Zero Alpha continues as it targets other markets with profitability.
Q: About breakdown of 2.5 trillion yen;
A: Includes impairment of development assets, compensation to suppliers, and impairment of equity method investments in China, with breakdowns for current and next fiscal years.
Q: About Sony Honda Mobility;
A: Discussions ongoing among shareholders regarding the future of this project.
Q: About recognition of this case historically;
A: First deficit since adopting new accounting standard, due to US EV market downturn, ACC2 regulation impact, etc.