Nissan Motor Co ( (NSANF) ) has released its Q2 earnings. Here is a breakdown of the information Nissan Motor Co presented to its investors.
Nissan Motor Co., Ltd., a leading global automobile manufacturer, specializes in the production and sale of vehicles and automotive components, with a strong presence in various international markets. In its latest earnings report for the first half of fiscal year 2024, Nissan Motor Co. announced a decrease in net revenue and operating profit, highlighting challenges in global sales volumes and rising costs. The company reported first-half net revenue of 5.98 trillion yen, a decrease of 79.1 billion yen from the previous year, and a significant drop in operating profit to 32.9 billion yen, resulting in an operating margin of 0.5%. Global sales volumes also saw a decline to 1.6 million units, impacted by increased selling expenses and inventory optimization efforts, especially in the US market. Nissan has revised its full-year financial outlook downward, projecting net revenue of 12,700 billion yen and operating profit of 150 billion yen, as it undertakes strategic turnaround actions. These measures aim to stabilize and restructure the business for sustainable growth, including reducing production capacity, workforce, and costs, while enhancing product competitiveness through partnerships with companies like Renault, Mitsubishi, and Honda. Looking ahead, Nissan is focused on becoming a leaner, more resilient organization capable of adapting to market changes, with plans to accelerate the introduction of new energy vehicles and deepen strategic collaborations to regain a path of profitable growth.
