Honda Net Forecast Trails Estimates on Recalls, U.S. Sales
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Honda Motor Co. forecast profit that fell short of analyst estimates as the Japanese carmaker recovers from its worst vehicle recalls in decades and as weaker overseas currencies erode earnings.
Net income will probably rise to 525 billion yen ($4.4 billion) in the fiscal year ending March 2016, based on U.S. GAAP accounting standards, from 522.8 billion yen a year earlier, the company said in a statement Tuesday. That compares with the 661 billion-yen average of 25 analyst estimates compiled by Bloomberg.