FUJIFILM (FUJIY) Q1 Earnings Decline, Revenues Increase Y/Y

FUJIFILM Holdings Corporation FUJIY reported a net income of ¥41.4 billion in the first quarter (ended Jun 30, 2022) compared with ¥57.3 billion in the year-ago quarter.

Revenues of ¥625.9 billion increased 7.4% year over year.

Fujifilm Holdings Corp. Price, Consensus and EPS Surprise

Fujifilm Holdings Corp. Price, Consensus and EPS Surprise

Fujifilm Holdings Corp. price-consensus-eps-surprise-chart | Fujifilm Holdings Corp. Quote

Segment Details

Healthcare segment revenues were ¥180.2 billion, up 3.5% from the year-ago quarter’s levels.

Within Healthcare, Medical Systems revenues rose 11.9% year over year to ¥127.7 billion. Bio CDMO revenues moved down 9.5% year over year to ¥30.6 billion. Life sciences revenues were ¥21.9 billion, down 16.5% year over year.

Materials' segment's revenues increased 16.8% to ¥175 billion. Electronic Materials, Graphic communication and other advanced materials revenues increased 32.4%, 20.8% and 5.5% on a year-over-year basis, respectively. Display Materials revenues fell 4.4% year over year.

The Business Innovation Solutions segment’s revenues were ¥188.2 billion, up 1.2% from the year-ago quarter’s figure. Office solutions revenues increased 1.1%, and Business solutions revenues moved up 1.4% on a year-over-year basis.

The Imaging Solutions segment’s revenues were ¥82.5 billion, up 13.6% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 20.4% and 2.5% on a year-over-year basis, respectively.

Operating Details

Selling, general and administrative expenses increased 5.1% to ¥167.2 billion. Research and development increased 1.1% to ¥37.6 billion.

Operating income fell 12% year over year to ¥49.6 billion.

Balance Sheet & Cash Flow

As of Jun 30, 2022, cash and cash equivalents were ¥538.1 billion, up from ¥486.3 billion as of Mar 31, 2022.

Total debt was ¥570.7 billion as of Jun 30, 2022, compared with ¥447.2 billion as of Mar 31, 2022

Guidance

FUJIFILM expects revenues of ¥2,700 billion for the current year, up from the earlier guidance of ¥2,650 billion, indicating growth of 6.9% year over year. Operating income is projected to be ¥250 billion, up from the earlier guidance of ¥245 billion, suggesting 8.8% year-over-year growth. Net income is expected to decline 7.7% year over year to ¥195 billion.

Zacks Rank & Stocks to Consider

Currently, FUJIFILM has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are Cadence Design Systems CDNS, Badger Meter BMI and Arista Networks ANET. Cadence Design Systems, Badger Meter and Arista Networks (ANET) each sport a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.

Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 22.4% in the past year.

The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 7% in the past 60 days.

Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 5.1% of their value in the past year.

The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $3.99 per share, increasing 8.4% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.

Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 38.9% in the past year.

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