Nissan Reports Lower Earnings and Revises FY2024 Outlook
Nissan Motor Co., Ltd. has announced its financial results for the third quarter and first nine months of fiscal year 2024, reporting declines in revenue and profitability due to lower vehicle sales, rising sales incentives, and inflation.
For the April-December 2024 period, Nissan’s consolidated net revenue stood at 9.1432 trillion yen, with an operating profit of 64.0 billion yen and an operating margin of 0.7%. Net income for the period was 5.1 billion yen, significantly lower than the previous year.
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Q3 Performance (October-December 2024)
In the third quarter alone, net revenue rose to 3.159 trillion yen, up 50.9 billion yen year-over-year. However, operating profit fell to 31.1 billion yen, a sharp decline of 110.5 billion yen, and net income turned negative at -14.1 billion yen.
Revised FY2024 Outlook
Nissan has lowered its full-year forecast, now expecting net revenue of 12.5 trillion yen (down 200 billion yen from previous estimates) and operating profit of 120 billion yen (down 30 billion yen). The company also anticipates a net loss of 80 billion yen for the fiscal year, citing revised sales volume and increased incentives, partially offset by foreign exchange gains.
Despite these challenges, Nissan remains focused on long-term growth strategies, including investments in electrification and global expansion efforts.
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