HMC.nyseCars submerged in floodswaters at a Honda Motor Co. car factory outside the ancient Thai capital of Ayutthaya, north of Bangkok Oct. 11, 2011. Honda, which made more than 170,000 cars in Thailand last year, scrapped its full-year forecasts as it reels from a disaster that’s inundated 10,000 factories and flooded more than 80 percent of Thailand’s 77 provinces since July.
Honda Motor Co., Japan’s third- largest carmaker, reported second-quarter profit that missed analysts’ estimates and withdrew its forecasts after flooding in Thailand crippled its production in Southeast Asia.
Net income was 60.4 billion yen ($761 million) in the three months ended Sept. 30, compared with 135.9 billion yen a year earlier, the company said in a statement. That missed the 66.1 billion yen average analyst estimate compiled by Bloomberg.
Net income was 60.4 billion yen ($761 million) in the three months ended Sept. 30, compared with 135.9 billion yen a year earlier, the company said in a statement. That missed the 66.1 billion yen average analyst estimate compiled by Bloomberg.
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