Honda Signals Profit Drop
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NET PROFIT FORECAST: Honda is expected to post a 26% drop in net profit to 175.13 billion yen, equivalent to $1.20 billion, for the three months ended March, according to a poll of analysts by LSEG. That would compare with Y237.57 billion in net profit in the year-earlier period.
Japanese automakers Honda (HMC) and Nissan (NSANY) both announced dismal earnings on Tuesday — and the worst may still be yet to come.