Toyota Motor Corp

7203: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Toyota Earnings: Profit In line as Cost and China Unit Cancel Out Foreign Exchange Benefit

Vincent Sun

Nov 6, 2024

Toyota's fiscal second-quarter revenue was flat year over year, with a decline in automobile sales offset by financial service income. Operating income dropped 20% year over year, while operating margin narrowed 250 basis points to 10%. With this note, we transfer coverage of Toyota to Vincent Sun.

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Toyota Motor Corp

Toyota Earnings: Profit In line as Cost and China Unit Cancel Out Foreign Exchange Benefit

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