Toyota fourth-quarter profit misses by wide margin as U.S. tariffs drive 49% slump

Toyota signage at the New York International Auto Show in New York City on April 2, 2026. Danielle DeVries | CNBC Japan's Toyota Motor on Friday reported a 49% drop in fourth-quarter operating profit, missing analysts' estimates as U.S. tariffs pressured earnings. Here are Toyota's results compared with median estimates from LSEG: Revenue: 12.6 trillion yen vs. 12.6 trillion yen expected Operating profit: 569.4 billion yen vs. 813.28 billion yen expected The world's largest automaker by sales volume saw a 1.89% year-on-year rise in revenue during the fourth quarter ended March. Stock Chart Icon Stock chart icon Toyota Motor Shares The results mark Toyota's fourth consecutive year-over-year decline in operating profit after its earnings fell 2%, reflecting persistent pressure from U.S. tariffs. Net income attributable to the company was 817.2 billion yen from 664.6 billion yen a year ago. The automaker's consolidated vehicle sales in its financial fourth quarter fell to 2.29 million from 2.36 million units a year earlier. Toyota lowered its operating income forecast by over 20% to 3 trillion yen for the financial year ending March 2027, while raising its sales revenue forecast by 0.6%. "We have recently seen a significant rise in our breakeven volume due to a combination of increases in investments in human resources and future-oriented investments and the impact of U.S. tariffs," the company said in an earnings statement on Friday. …