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Category Archives: financial results
Sunshine as Disinfectant or Glare? – SEC Proposes Enhanced Proxy Voting Disclosure
While the intent is to slow down the insider trading practices in the capital markets, it is by no means certain it will do so. Without doubt it will increase the complexity and length of disclosure documents thereby leading to more confusion among the people it is trying to help. Continue reading
Nissan Motor Posts ¥75.7B Operating Profit for Q1 FY
During the first three months of the fiscal year, Nissan unit sales increased sharply as the industry rebounded from the pandemic disruption of 2020. Both total industry volumes and global Nissan retail sales increased by more than 60% with keeping pace with the industry volumes. Nissan’s digitally influenced sales have further increased in quarter one. Continue reading
Bentley Cautiously Posts Record 2021 Half-Year
However, “these positive results are against a backdrop of continued uncertainty which could negatively impact the second half of the year. The increasing COVID-19 numbers in many parts of the world could threaten future production in the worst-case or see further retail restrictions posing both a sales and financial risk to forecasts,” Bentley said. Continue reading
Renault Group Boasts €2B Fixed-Cost Cuts Ahead of Plan
“These results are the fruits of our strategic Renaulution plan, focused on profitability. They mark only the first step in our turnaround, which should accelerate with the arrival of the new vehicles in preparation. I would like to thank all our employees for their commitment in achieving these results,” declared Luca de Meo, CEO of Renault Group. To AutoInformed, it seems premature to have a French victory toast at this point in the ongoing covid and automotive wars. C’est fous. Continue reading
Ford Motor Posts Q2 Revenue $26.8B, Net Income $56M, Earnings $1.1B as Market Share Drops
During April with the semiconductor situation worsening, Ford said it expected to lose about 50% of its planned second-quarter production, which would have resulted in a loss in the period. Ford did better than that using the strong demand from the Biden Administration economic boom to improve revenue and profits through lower incentives and a more expensive and profitable mix of vehicles. These generated company-wide adjusted earnings of $1.1 billion before interest and taxes. Continue reading
Penske Automotive Posts Record Q2 Results
“Our business produced an all-time record second quarter driven by strength across all areas of our business. Strong volume and vehicle margins, improving service and parts operations, a growing Class 8 commercial truck market, record performance at Penske Transportation Solutions, and continuing cost controls all contributed to the record performance. I am particularly pleased with the continued expense discipline driving an 1,860-basis point improvement in selling, general, and administrative expense as a percent of gross profit,” said Chair and CEO Roger Penske. Continue reading
LG Electronics to Reimburse GM for $1.9B Bolt EV Recall Costs
As a result of the agreement, GM will recognize an estimated recovery in its third-quarter earnings that will offset $1.9 billion of $2.0 billion in charges associated with the recalls. Continue reading →