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FUJIFILM's (FUJIY) Q2 Earnings and Revenues Increase Y/Y
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FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a net income of ¥59.2 billion in the fiscal second quarter (ended Sep 30, 2023) compared with ¥53.8 billion in the year-ago quarter.
Revenues of ¥727.7 billion increased 0.5% year over year. The uptick was due to revenue growth in Medical Systems, Business Solutions and Professional Imaging.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
For the fiscal second quarter, Healthcare segment revenues came in at ¥241.4 billion, up 1.3% from the year-ago quarter’s levels.
Within Healthcare, Medical Systems revenues rose 4.6% year over year to ¥164.6 billion. Bio CDMO revenues moved down 7.7% to ¥50.5 billion. Life sciences revenues remained flat at ¥26.3 billion.
The Materials segment's revenues decreased 5.4% to ¥165 billion. Electronic Materials, Graphic communication and other advanced materials revenues decreased 11.3%, 6.4% and 13.9% on a year-over-year basis, respectively. Display Materials revenues increased 32.2% year over year.
The Business Innovation Solutions segment’s revenues were ¥207.3 billion, down 1.4% from the year-ago quarter’s figure. Office solutions revenues decreased 4.9%, and Business solutions revenues moved up 5.4% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥114 billion, up 12.9% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 11% and 16.1% on a year-over-year basis, respectively.
Operating Details
For the six months ended, selling, general and administrative expenses increased 3.2% to ¥354.5 billion. Research and development increased 2.5% to ¥78.4 billion.
Operating income increased 2.9% year over year to ¥73.3 billion.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash and cash equivalents were ¥322.2 billion, up from ¥250 billion as of Jun 30, 2023.
Total debt was ¥547.2 billion as of Sep 30, 2023, compared with ¥464.4 billion as of Jun 30, 2023.
Guidance
FUJIFILM expects revenues of ¥2,950 billion for fiscal 2023, indicating growth of 3.2% year over year. The operating income is projected to be ¥290 billion, suggesting 6.2% year-over-year growth. The net income is expected to increase 2.5% year over year to ¥225 billion.
The Zacks Consensus Estimate for Asure Software’s 2023 EPS has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have soared 29.5% in the past year.
The Zacks Consensus Estimate for Flex’s 2024 EPS has gained 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%. Shares of FLEX have gained 34.4% in the past year.
The Zacks Consensus Estimate for Wix’s 2023 EPS has increased 7.5% in the past 60 days to $3.60.
Wix’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 319.3%. Shares of WIX have rallied 29.1% in the past year.
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FUJIFILM's (FUJIY) Q2 Earnings and Revenues Increase Y/Y
FUJIFILM Holdings Corporation (FUJIY - Free Report) reported a net income of ¥59.2 billion in the fiscal second quarter (ended Sep 30, 2023) compared with ¥53.8 billion in the year-ago quarter.
Revenues of ¥727.7 billion increased 0.5% year over year. The uptick was due to revenue growth in Medical Systems, Business Solutions and Professional Imaging.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
Fujifilm Holdings Corp. price-consensus-eps-surprise-chart | Fujifilm Holdings Corp. Quote
Segment Details
For the fiscal second quarter, Healthcare segment revenues came in at ¥241.4 billion, up 1.3% from the year-ago quarter’s levels.
Within Healthcare, Medical Systems revenues rose 4.6% year over year to ¥164.6 billion. Bio CDMO revenues moved down 7.7% to ¥50.5 billion. Life sciences revenues remained flat at ¥26.3 billion.
The Materials segment's revenues decreased 5.4% to ¥165 billion. Electronic Materials, Graphic communication and other advanced materials revenues decreased 11.3%, 6.4% and 13.9% on a year-over-year basis, respectively. Display Materials revenues increased 32.2% year over year.
The Business Innovation Solutions segment’s revenues were ¥207.3 billion, down 1.4% from the year-ago quarter’s figure. Office solutions revenues decreased 4.9%, and Business solutions revenues moved up 5.4% on a year-over-year basis.
The Imaging Solutions segment’s revenues were ¥114 billion, up 12.9% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 11% and 16.1% on a year-over-year basis, respectively.
Operating Details
For the six months ended, selling, general and administrative expenses increased 3.2% to ¥354.5 billion. Research and development increased 2.5% to ¥78.4 billion.
Operating income increased 2.9% year over year to ¥73.3 billion.
Balance Sheet & Cash Flow
As of Sep 30, 2023, cash and cash equivalents were ¥322.2 billion, up from ¥250 billion as of Jun 30, 2023.
Total debt was ¥547.2 billion as of Sep 30, 2023, compared with ¥464.4 billion as of Jun 30, 2023.
Guidance
FUJIFILM expects revenues of ¥2,950 billion for fiscal 2023, indicating growth of 3.2% year over year. The operating income is projected to be ¥290 billion, suggesting 6.2% year-over-year growth. The net income is expected to increase 2.5% year over year to ¥225 billion.
Zacks Rank & Stocks to Consider
Currently, FUJIFILM has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology space are Asure Software (ASUR - Free Report) , Flex (FLEX - Free Report) and Wix.com (WIX - Free Report) . Each stock presently sports 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 Asure Software’s 2023 EPS has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 676.4%. Shares of ASUR have soared 29.5% in the past year.
The Zacks Consensus Estimate for Flex’s 2024 EPS has gained 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%. Shares of FLEX have gained 34.4% in the past year.
The Zacks Consensus Estimate for Wix’s 2023 EPS has increased 7.5% in the past 60 days to $3.60.
Wix’s earnings beat estimates in all the trailing four quarters, delivering an average surprise of 319.3%. Shares of WIX have rallied 29.1% in the past year.