NEW YORK (TheStreet) -- Toyota Motor
(TM) announced that it was expanding its 2013 recall of nearly 2 million vehicles by 650,000 due to faulty airbags.
The world's leading automaker expanded its recall after revealing that the air bag supplier failed to furnish the company with the serial numbers of all the airbags that were affected.
(HMC) and Nissan
(NSANY), along with Toyota, recalled over 3 million vehicles last year due to the faulty airbags, all supplied by Tokyo based company Takata.
Toyota shares are up 0.3% in early market trading on Wednesday.
- The revenue growth came in higher than the industry average of 22.7%. Since the same quarter one year prior, revenues rose by 44.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- TOYOTA MOTOR CORP has improved earnings per share by 16.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TOYOTA MOTOR CORP increased its bottom line by earning $11.17 versus $6.46 in the prior year. This year, the market expects an improvement in earnings ($12.36 versus $11.17).
- Net operating cash flow has significantly increased by 61.50% to $9,495.00 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 42.70%.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Automobiles industry and the overall market on the basis of return on equity, TOYOTA MOTOR CORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- You can view the full analysis from the report here: TM Ratings Report
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