We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FUJIFILM's (FUJIY) Q1 Earnings and Revenues Increase Y/Y
Read MoreHide Full Article
FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a first-quarter fiscal 2024 (ended Jun 30, 2024) net income of ¥60.7 billion compared with ¥54.4 billion in the year-ago quarter.
Revenues of ¥749 billion increased 13.4% year over year. The uptick was primarily driven by strong sales in Imaging, Semiconductor Materials and Medical Systems, along with favorable exchange rates.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
In June 2024, the company established the Advanced Functional Materials division by integrating its display materials, industrial products and fine chemicals businesses.
In the fiscal first quarter, Healthcare segment revenues came in at ¥229.2 billion, up 10.8% from the year-ago quarter.
Within Healthcare, Medical Systems revenues rose 12.6% year over year to ¥157.7 billion. Robust sales of endoscopes and CT/MRI systems were the primary drivers. Bio CDMO revenues were up 15.2% to ¥47.1 billion. Life sciences revenues were ¥24.4 billion, down 5.7% year over year.
In the Electronics segment, revenues amounted to ¥109.1 billion, up 37.9% year over year. Electronic Materials revenues rose 53.6% year over year to ¥62.3 billion, driven by the semiconductor market recovery fueled by innovative applications and contributions from the semiconductor process chemicals business acquired from Entegris in October 2023. Advanced Functional Materials revenues soared 21.4% to ¥46.8 billion.
The Business Innovation Solutions segment’s revenues were ¥280 billion, jumping 3.9% from the year-ago quarter’s figure. Office solutions revenues increased 0.7% and Business solutions revenues moved up 3.5% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥130.7 billion, up 24.2% from the year-ago quarter’s level. Consumer Imaging and Professional Imaging revenues rose 17.8% and 33.8% on a year-over-year basis, respectively. This growth was driven by strong sales of instax instant photo systems along with steady sales of digital cameras.
Operating Details
In the fiscal first quarter, selling, general and administrative expenses increased 19.5% to ¥206 billion. Research and development jumped 4.4% to ¥40.3 billion.
Operating income increased 19.1% year over year to ¥62.2 billion owing to robust sales in electronics and imaging, along with favorable exchange rates that offset the impact of higher one-time costs in healthcare.
Balance Sheet & Cash Flow
As of Jun 30, 2024, cash and cash equivalents were ¥195.3 billion, up from ¥179.7 billion as of Mar 31, 2024.
Total debt was ¥580.6 billion as of Jun 30, 2024, compared with ¥502.8 billion as of Mar 31, 2024.
FUJIFILM is planning an annual dividend of ¥60 per share, marking the 15th consecutive year of increase.
Guidance Revised
FUJIFILM expects revenues of ¥3,150 billion for fiscal 2024, indicating growth of 6.4% year over year. The operating income is projected to be ¥315 billion, suggesting 13.8% growth. Net income is expected to increase 2.7% year over year to ¥250 billion.
The Zacks Consensus Estimate for Arista’s 2024 EPS has increased 4% in the past 60 days to $8.24. The company’s second-quarter 2024 EPS of $2.10 beat the Zacks Consensus Estimate by 16 cents. Quarterly revenues were $1.69 billion, up 15.8% from $1.46 billion in the year-ago quarter and surpassed the consensus mark by $1.64 billion.
The Zacks Consensus Estimate for Generac’s 2024 EPS has increased 2.9% in the past 60 days to $6.44. The company’s second-quarter 2024 EPS of $1.35 topped the Zacks Consensus Estimate by 8.9%. Quarterly net sales were $998 million, down 22% from $1 billion in the year-ago quarter and missed the consensus mark by 0.5%.
The Zacks Consensus Estimate for Itron’s 2024 EPS has increased 12% in the past 60 days to $4.48. The company’s second-quarter 2024 EPS of $1.21 topped the Zacks Consensus Estimate by 26%. Revenues came in at $609 million, up 13% year-over-year and beat the Zacks Consensus Estimate of $600 million.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
FUJIFILM's (FUJIY) Q1 Earnings and Revenues Increase Y/Y
FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a first-quarter fiscal 2024 (ended Jun 30, 2024) net income of ¥60.7 billion compared with ¥54.4 billion in the year-ago quarter.
Revenues of ¥749 billion increased 13.4% year over year. The uptick was primarily driven by strong sales in Imaging, Semiconductor Materials and Medical Systems, along with favorable exchange rates.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Fujifilm Holdings Corp. price-consensus-eps-surprise-chart | Fujifilm Holdings Corp. Quote
Segment Details
In June 2024, the company established the Advanced Functional Materials division by integrating its display materials, industrial products and fine chemicals businesses.
In the fiscal first quarter, Healthcare segment revenues came in at ¥229.2 billion, up 10.8% from the year-ago quarter.
Within Healthcare, Medical Systems revenues rose 12.6% year over year to ¥157.7 billion. Robust sales of endoscopes and CT/MRI systems were the primary drivers. Bio CDMO revenues were up 15.2% to ¥47.1 billion. Life sciences revenues were ¥24.4 billion, down 5.7% year over year.
In the Electronics segment, revenues amounted to ¥109.1 billion, up 37.9% year over year. Electronic Materials revenues rose 53.6% year over year to ¥62.3 billion, driven by the semiconductor market recovery fueled by innovative applications and contributions from the semiconductor process chemicals business acquired from Entegris in October 2023. Advanced Functional Materials revenues soared 21.4% to ¥46.8 billion.
The Business Innovation Solutions segment’s revenues were ¥280 billion, jumping 3.9% from the year-ago quarter’s figure. Office solutions revenues increased 0.7% and Business solutions revenues moved up 3.5% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥130.7 billion, up 24.2% from the year-ago quarter’s level. Consumer Imaging and Professional Imaging revenues rose 17.8% and 33.8% on a year-over-year basis, respectively. This growth was driven by strong sales of instax instant photo systems along with steady sales of digital cameras.
Operating Details
In the fiscal first quarter, selling, general and administrative expenses increased 19.5% to ¥206 billion. Research and development jumped 4.4% to ¥40.3 billion.
Operating income increased 19.1% year over year to ¥62.2 billion owing to robust sales in electronics and imaging, along with favorable exchange rates that offset the impact of higher one-time costs in healthcare.
Balance Sheet & Cash Flow
As of Jun 30, 2024, cash and cash equivalents were ¥195.3 billion, up from ¥179.7 billion as of Mar 31, 2024.
Total debt was ¥580.6 billion as of Jun 30, 2024, compared with ¥502.8 billion as of Mar 31, 2024.
FUJIFILM is planning an annual dividend of ¥60 per share, marking the 15th consecutive year of increase.
Guidance Revised
FUJIFILM expects revenues of ¥3,150 billion for fiscal 2024, indicating growth of 6.4% year over year. The operating income is projected to be ¥315 billion, suggesting 13.8% growth. Net income is expected to increase 2.7% year over year to ¥250 billion.
Zacks Rank
Currently, FUJIFILM has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Itron, Inc. (ITRI - Free Report) , Generac Holdings Inc. (GNRC - Free Report) and Arista Networks, Inc. (ANET - Free Report) . ANET presently sports a Zacks Rank #1 (Strong Buy), whereas GNRC and ITRI both carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista’s 2024 EPS has increased 4% in the past 60 days to $8.24. The company’s second-quarter 2024 EPS of $2.10 beat the Zacks Consensus Estimate by 16 cents. Quarterly revenues were $1.69 billion, up 15.8% from $1.46 billion in the year-ago quarter and surpassed the consensus mark by $1.64 billion.
The Zacks Consensus Estimate for Generac’s 2024 EPS has increased 2.9% in the past 60 days to $6.44. The company’s second-quarter 2024 EPS of $1.35 topped the Zacks Consensus Estimate by 8.9%. Quarterly net sales were $998 million, down 22% from $1 billion in the year-ago quarter and missed the consensus mark by 0.5%.
The Zacks Consensus Estimate for Itron’s 2024 EPS has increased 12% in the past 60 days to $4.48. The company’s second-quarter 2024 EPS of $1.21 topped the Zacks Consensus Estimate by 26%. Revenues came in at $609 million, up 13% year-over-year and beat the Zacks Consensus Estimate of $600 million.