Toyota cuts annual profit estimate, expects $9.5 billion tariff hit TOKYO (Reuters) -Toyota Motor cut its full-year operating profit forecast by 16% on Thursday, expecting a nearly $10 billion hit from U.S. tariffs on imported cars and grappling with higher material prices and a stronger yen. The world’s biggest automaker cut its operating profit forecast for the financial year to end-March 2026 to 3.2 trillion yen ($21.7 billion), down from a previous outlook of 3.8 trillion yen. Toyota (NYSE:TM) said it expects the U.S. levies to reduce its profit by 1.4 trillion yen ($9.50 billion) for the entire year. It had previously estimated a hit of 180 billion yen for April and May, but it had not issued a full-year projection until now. For the April to June first quarter, Toyota reported an operating profit of 1.17 trillion yen, down from 1.31 trillion yen a year earlier, but above the 902 billion yen average of seven analyst estimates compiled by LSEG. Toyota’s first-quarter results highlight the pressure U.S. import tariffs are placing on Japanese automakers, even as a trade agreement between Tokyo and Washington offers potential relief. Under the bilateral deal agreed last month, Japanese auto exports into the U.S. would face a 15% tariff, down from levies totalling 27.5% previously. But a timeframe for the change to go into effect has yet to be announced. ($1 = 147.2300 yen) With TM making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging. InvestingPro's advanced AI algorithms have analyzed TM alongside thousands of other stocks to uncover hidden gems. These undervalued stocks, potentially including TM, could offer substantial returns as the market corrects. In 2024 alone, our AI identified several undervalued stocks that later surged by 30 or more. Is TM poised for similar growth? Don't miss the opportunity to find out.

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Exxon beats Wall Street profit estimate, boosted by Guyana and Permian production By Sheila Dang HOUSTON (Reuters) - Exxon Mobil (NYSE:XOM) on Friday beat Wall Street’s estimate for first-quarter profit as higher oil and gas production from Guyana and the Permian basin helped boost earnings. Profit during the January-March quarter was $7.71 billion or $1.76 per share, beating analyst estimates of $1.73 per share, according to data compiled by LSEG. Exxon, the largest U.S. oil producer, and the broader energy sector have faced a tumultuous start to the year after U.S. President Donald Trump’s global tariff announcements stoked recession fears. Those concerns triggered a slump in oil prices because a weaker economy needs less energy to fuel it. Trump, who wants lower pump prices for consumers, is executing policies to cut regulations, a move he claims will increase oil and gas output. But with the exception of some liquefied natural gas projects, energy companies generally have not increased investment plans and are bracing for a downturn after oil prices in April fell to a four-year low. Sustained lower oil prices would lead producers to cut rather than increase spending and drilling. Exxon’s oil and gas production totaled 4.55 million barrels of oil equivalent per day (boepd) during the quarter, up from 3.78 million boepd in the same period last year. Exxon paid $4.3 billion in dividends and repurchased $4.8 billion in shares during the quarter. The buyback figure puts the company on track to meet its annual share repurchase goal of $20 billion. "In this uncertain market, our shareholders can be confident in knowing that we’re built for this," Exxon CEO Darren Woods said in a statement. Earnings from oil and gas production were $6.76 billion, up from $5.66 billion in the same period last year. Refining profits were $827 million, down from $1.38 billion a year ago. Exxon has been locked in an arbitration battle with rival Chevron (NYSE:CVX) over Chevron’s planned $53 billion acquisition of Hess (NYSE:HES), which owns a 30% interest in a Guyana oil joint venture that is led by Exxon. Exxon and CNOOC (NYSE:CEO), the third partner in the consortium, argue they have a first right of refusal to purchase Hess’ stake. A hearing in the arbitration case is scheduled for May 26 in London. Shares of the company were flat in pre-market trading on Friday.

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