Japan · Delayed Price · Currency is JPY IHI Corporation Earnings Call Transcripts
Fiscal Year 2026
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Record-high orders, revenue, and profit were achieved in fiscal year 2025, driven by defense, nuclear energy, and asset sales. Fiscal year 2026 is forecast to continue this trend, with growth investments prioritized in civil aero engines, defense, and nuclear energy.
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Record Q3 orders and profit attributable to owners of parent were achieved, driven by strong nuclear energy demand and gains from divestitures, despite revenue declines and overseas energy underperformance. Structural reforms and business divestitures are accelerating.
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Orders and net income reached record highs, driven by nuclear energy and defense demand, while revenue and operating profit declined year-over-year due to project timing and business transfers. Upward guidance reflects strong civil aero engine and defense performance.
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Orders surged on strong demand in carbon solutions and aero engines, but revenue and profits fell year-over-year due to project timing and yen appreciation. Full-year guidance is unchanged amid tariff and economic uncertainties, with ongoing business reforms and a planned 1:7 stock split.
Fiscal Year 2025
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Q3 FY2024 saw strong revenue and operating profit growth, led by robust civil aero engine spare parts sales and cost improvements. Financial soundness improved, and the full-year net profit forecast was raised, with positive cash flow and margin outlooks.
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Q2 FY2024 saw strong revenue and record operating profit, driven by civil aero engines and spare parts. Full-year operating profit guidance was raised, with improved financial ratios and ongoing restructuring in conventional businesses.
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Revenue, operating profit, and orders received all rose year-over-year, led by strong civil aero engine and power plant project performance. Full-year guidance is unchanged, with risks from FX volatility and the PW1100G inspection program.