Toyota Gets Strong Mix Tailwind in Fiscal Second-Quarter Results
We are not changing our fair value estimate after looking at Toyota's fiscal 2019 second-quarter numbers. The company grew diluted EPS 31% year over year and raised fiscal 2019 guidance for revenue, operating income, and net income. The guidance change in our view is coming from less expected sales incentives in the back end of the fiscal year and a weaker yen against the dollar for fiscal 2019 than previously guided at now JPY 110 versus JPY 106. This currency assumption change means an extra J...
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