Toyota Motor Corporation (NYSE:TM) reported first-quarter 2027 results that exceeded Wall Street expectations, supported by strong hybrid vehicle sales and higher revenue.
The Japanese automaker also raised its full-year operating income and revenue forecasts, while its shares edged 0.28% higher in pre-market trading following the earnings release
Earnings and Revenue Top Forecasts Toyota posted adjusted earnings of $7.71 per share for the quarter, comfortably ahead of the analyst consensus estimate of $4.52. Revenue reached $86.38 billion, surpassing market expectations of $81.01 billion and representing a 10.4% increase from $78.23 billion in the same period last year. The stronger-than-expected results reflected resilient global demand and continued growth in electrified vehicle sales.
Hybrid Sales Offset Market Challenges Operating income declined 8.8% year over year to 1.06 trillion yen from 1.17 trillion yen, as the company continued to face challenges in the Middle East market. However, Toyota said favourable foreign exchange movements, ongoing cost reduction initiatives and rising sales of hybrid electric vehicles helped offset those headwinds. Hybrid electric vehicle (HEV) sales increased 6.7% from a year earlier to 1.24 million units, while battery electric vehicle (BEV) sales surged 141% to 114,000 units.