<p>作者：Katrina Hamlin</p>
<p>日产汽车最新的财报传递出一种新的、更为乐观的信号。这家陷入困境的汽车制造商在第二季度意外实现了盈利，即使剔除了一次性收益后也是如此。虽然这个数字不大，但首席执行官伊万·埃斯皮诺萨能够超越他最初的目标，这为这家市值 81 亿美元的集团的复苏注入了谨慎的乐观情绪。</p>
<p>日产在截至 9 月底的三个月内报告了 510 亿日元（约合 3.38 亿美元）的营业利润，但指出这其中包含了因美国排放法规变化而产生的收益。剔除这一部分后，盈利大约为 1 亿美元。与公司三个月前预期的 6.59 亿美元亏损相比，这个结果看起来相当不错。周五早盘，股价上涨了最多 6%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/tag:reuters.com,2025:newsml_L6N3WJ0GZ-80ddca172a33e98b86c560e6154527c8-resized.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/tag:reuters.com,2025:newsml_L6N3WJ0GZ-80ddca172a33e98b86c560e6154527c8-resized.jpeg"/></p>
<p>汤森路透：日产汽车的营业利润好于公司预期</p>
<p>除了埃斯皮诺萨超越自身目标之外，还有其他令人鼓舞的迹象。尽管美国是其最大市场，但北美的销售同比增长了 6.7%。确实，其他地区的交付量有所下降。但在财报电话会议上，首席财务官杰里米·帕平指出，中国这一第二大市场的销售自 6 月以来连续五个月增长。集团还表示，在第二季度实施了超过 3 亿美元的固定成本节约，超过了前面三个月的节省，并成功出售了其位于横滨的总部，交易金额为 6.43 亿美元。</p>
<p>日产的汽车部门现在拥有约 140 亿美元的现金和大致相同金额的未使用承诺信用额度，这将帮助其度过接下来的几个月。该集团对全年近 20 亿美元的营业亏损预测保持不变。</p>
<p>诚然，一些复苏更新对投资者来说更难以理解。公司表示，目前已生成 4500 个想法以帮助控制可变成本，预计这些想法的价值可能超过 10 亿美元。但头脑风暴的价值难以量化，具体的例子如重新设计车灯和座椅最多只能带来渐进式的改善。其他有趣的提案，如从其在中国的生产中心出口汽车，面临相当大的风险。</p>
<p>日产仍然面临漫长的复苏之路。今年迄今为止，股价已下跌 27%，公司的股权价值仅为其账面价值的四分之一，LSEG 数据显示。</p>
<p>尽管如此，埃斯皮诺萨的更新足以避免进一步削弱信心。他甚至可能重新点燃一些希望。</p>
<p>在 Bluesky 和 LinkedIn 上关注 Katrina Hamlin。</p>
<p>背景新闻</p>
<p>日产汽车在 11 月 6 日发布的财报中报告，截至 9 月底的六个月内营业亏损 280 亿日元，这意味着其财年第二季度营业利润为 510 亿日元。去年，公司在上半年实现了 330 亿日元的营业利润，第二季度实现了 320 亿日元的营业利润。</p>
<p>该公司在半年期间的收入同比下降 6.8%，降至 5.6 万亿日元，而截至 9 月的季度收入同比下降 3.8%，降至 2.9 万亿日元。</p>
<p>公司还指出，在六个月内与保修和美国排放法规相关的一次性收益总计为 650 亿日元。</p>

日产汽车(ADR)

<p>日产汽车报告了第二季度意外盈利 510 亿日元（3.38 亿美元），超出预期，显示出对其扭转局势的谨慎乐观。尽管预计全年将亏损 20 亿美元，但北美的销售增长了 6.7%，中国也经历了五个月的增长。公司实施了超过 3 亿美元的成本节约，并拥有 140 亿美元的现金和信用额度。然而，股价今年已下跌 27%，公司面临着包括股权大幅下滑在内的挑战</p>

<p>By Katrina Hamlin</p>
<div class="lb-trans"><p>作者：Katrina Hamlin</p>
</div><p>Nissan Motor's  latest earnings strike a new, more hopeful note. The troubled automaker reported a surprise profit for the second quarter, even after stripping out a one-off gain. Sure, it was a modest amount. But for CEO Ivan Espinosa to beat his original target helps to fuel cautious optimism on the $8.1 billion group’s turnaround.</p>
<div class="lb-trans"><p>日产汽车最新的财报传递出一种新的、更为乐观的信号。这家陷入困境的汽车制造商在第二季度意外实现了盈利，即使剔除了一次性收益后也是如此。虽然这个数字不大，但首席执行官伊万·埃斯皮诺萨能够超越他最初的目标，这为这家市值 81 亿美元的集团的复苏注入了谨慎的乐观情绪。</p>
</div><p>Nissan booked a 51 billion yen ($338 million) operating profit for the three months to the end of September in results released on Thursday, but flagged a gain from changes to U.S. emissions regulations. Strip that out, and earnings came to roughly $100 million. That looks decent compared to the $659 million loss the company expected just over three months ago. Shares rose as much as 6% in early trade on Friday.</p>
<div class="lb-trans"><p>日产在截至 9 月底的三个月内报告了 510 亿日元（约合 3.38 亿美元）的营业利润，但指出这其中包含了因美国排放法规变化而产生的收益。剔除这一部分后，盈利大约为 1 亿美元。与公司三个月前预期的 6.59 亿美元亏损相比，这个结果看起来相当不错。周五早盘，股价上涨了最多 6%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://s3.tradingview.com/news/image/tag:reuters.com,2025:newsml_L6N3WJ0GZ-80ddca172a33e98b86c560e6154527c8-resized.jpeg" alt="" original-src="https://s3.tradingview.com/news/image/tag:reuters.com,2025:newsml_L6N3WJ0GZ-80ddca172a33e98b86c560e6154527c8-resized.jpeg"/></p>
<p>Thomson ReutersNissan Motor's operating profit was better than the company forecast</p>
<div class="lb-trans"><p>汤森路透：日产汽车的营业利润好于公司预期</p>
</div><p>There were other encouraging signs beyond Espinosa outperforming his own goals. Sales in North America grew 6.7% from a year earlier despite tariffs in the U.S., its largest market. True, deliveries dropped off in other regions. But on the earnings call, CFO Jérémie Papin flagged that sales in China, its second-largest market, grew for five consecutive months starting in June. The group also flagged that it had implemented more than $300 million in fixed cost savings in the second quarter - more than it managed in the previous three months - as well as securing the sale of its Yokohama headquarters for $643 million.</p>
<div class="lb-trans"><p>除了埃斯皮诺萨超越自身目标之外，还有其他令人鼓舞的迹象。尽管美国是其最大市场，但北美的销售同比增长了 6.7%。确实，其他地区的交付量有所下降。但在财报电话会议上，首席财务官杰里米·帕平指出，中国这一第二大市场的销售自 6 月以来连续五个月增长。集团还表示，在第二季度实施了超过 3 亿美元的固定成本节约，超过了前面三个月的节省，并成功出售了其位于横滨的总部，交易金额为 6.43 亿美元。</p>
</div><p>Nissan's auto unit now has around $14 billion in cash and about the same amount in unused committed credit lines, which will help see it through the months ahead. The group left unchanged its forecast for a nearly $2 billion operating loss for the full year.</p>
<div class="lb-trans"><p>日产的汽车部门现在拥有约 140 亿美元的现金和大致相同金额的未使用承诺信用额度，这将帮助其度过接下来的几个月。该集团对全年近 20 亿美元的营业亏损预测保持不变。</p>
</div><p>Admittedly, some of the turnaround updates were trickier for investors to parse. The company said it has now generated 4500 ideas to help control variable costs, which it reckons could be worth more than $1 billion. But brainstorming is hard to price in, and specific examples such as redesigning headlamps and seating offer incremental improvements at best. Other interesting proposals on the table, such as exporting cars from its production hub in China, face considerable risks.</p>
<div class="lb-trans"><p>诚然，一些复苏更新对投资者来说更难以理解。公司表示，目前已生成 4500 个想法以帮助控制可变成本，预计这些想法的价值可能超过 10 亿美元。但头脑风暴的价值难以量化，具体的例子如重新设计车灯和座椅最多只能带来渐进式的改善。其他有趣的提案，如从其在中国的生产中心出口汽车，面临相当大的风险。</p>
</div><p>Nissan still has a long slog ahead. Shares have fallen 27% so far this year, and the company's equity is worth just a quarter of its book value, LSEG data shows.</p>
<div class="lb-trans"><p>日产仍然面临漫长的复苏之路。今年迄今为止，股价已下跌 27%，公司的股权价值仅为其账面价值的四分之一，LSEG 数据显示。</p>
</div><p>Nonetheless, Espinosa's update will be enough to avoid further undermining confidence. And he might even rekindle a little hope.</p>
<div class="lb-trans"><p>尽管如此，埃斯皮诺萨的更新足以避免进一步削弱信心。他甚至可能重新点燃一些希望。</p>
</div><p>Follow Katrina Hamlin on Bluesky and LinkedIn.</p>
<div class="lb-trans"><p>在 Bluesky 和 LinkedIn 上关注 Katrina Hamlin。</p>
</div><p>CONTEXT NEWS</p>
<div class="lb-trans"><p>背景新闻</p>
</div><p>Nissan Motor reported a 28 billion yen operating loss for the six months to the end of September in results released on November 6, implying a 51 billion yen operating profit for the second quarter of its financial year. Last year, the company booked a 33 billion yen operating profit in the first half, and a 32 billion yen operating profit in the second quarter.</p>
<div class="lb-trans"><p>日产汽车在 11 月 6 日发布的财报中报告，截至 9 月底的六个月内营业亏损 280 亿日元，这意味着其财年第二季度营业利润为 510 亿日元。去年，公司在上半年实现了 330 亿日元的营业利润，第二季度实现了 320 亿日元的营业利润。</p>
</div><p>Revenue for the half-year period fell 6.8% year-on-year to 5.6 trillion yen, while revenue for the quarter to September fell 3.8% from a year earlier to 2.9 trillion yen.</p>
<div class="lb-trans"><p>该公司在半年期间的收入同比下降 6.8%，降至 5.6 万亿日元，而截至 9 月的季度收入同比下降 3.8%，降至 2.9 万亿日元。</p>
</div><p>The company also noted one-off gains during the six months relating to warranties and U.S. emissions regulations worth a combined 65 billion yen.</p>
<div class="lb-trans"><p>公司还指出，在六个月内与保修和美国排放法规相关的一次性收益总计为 650 亿日元。</p>
</div>

日产的财报透露出一线希望