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FUJIFILM's (FUJIY) Q2 Earnings and Revenues Increase Y/Y

FUJIFILM Holdings Corporation FUJIY reported a net income of ¥53.8 billion in the second quarter (ended Sep 30, 2022) compared with ¥39 billion in the year-ago quarter.

Revenues of ¥724 billion increased 16.3% year over year. The uptick was caused due to revenue growth in Medical Systems, Electronic Materials and Imaging business segments.

Fujifilm Holdings Corp. Price, Consensus and EPS Surprise

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

For the second quarter (ended Sep 30, 2022), Healthcare segment revenues came in at ¥235.9 billion, up 17.1% from the year-ago quarter’s levels.

Within Healthcare, Medical Systems revenues rose 18.5% year over year to ¥154.9 billion. Bio CDMO revenues moved up 46.7% year over year to ¥54.7 billion. Life sciences revenues were ¥26.3 billion, down 21.2% year over year.

The Materials segment's revenues increased 12% to ¥177 billion. Electronic Materials, Graphic communication and other advanced materials revenues increased 36.2%, 21.5% and 3.5% on a year-over-year basis, respectively. Display Materials revenues fell 40.5% year over year.

The Business Innovation Solutions segment’s revenues were ¥210.2 billion, up 12.2% from the year-ago quarter’s figure. Office solutions revenues increased 11.3% and Business solutions revenues moved up 14.1% on a year-over-year basis.

The Imaging Solutions segment’s revenues were ¥100.9 billion, up 33.3% from the year-ago quarter’s levels. Consumer Imaging and Professional Imaging revenues rose 32.2% and 35.3% on a year-over-year basis, respectively.

Operating Details

In the first half of the year, selling, general and administrative expenses increased 6.4% to ¥343.4 billion. Research and development increased 0.9% to ¥76.5 billion.

Operating income increased 38.3% year over year to ¥71.2 billion.

Balance Sheet & Cash Flow

As of Sep 30, 2022, cash and cash equivalents were ¥446.9 billion, up from ¥538.1 billion as of Jun 30.

Total debt was ¥520.4 billion as of Sep 30, 2022, compared with ¥570.7 billion as of Jun 30.

Guidance

FUJIFILM expects revenues of ¥2,800 billion for the current year, up from the earlier guidance of ¥2,700 billion, indicating growth of 10.9% year over year. The operating income is projected to be ¥260 billion, up from the earlier guidance of ¥250 billion, suggesting 13.2% year-over-year growth. The net income is expected to decline 5.3% year over year to ¥200 billion.

Zacks Rank & Stocks to Consider

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

Some better-ranked stocks from the broader technology space are Arista Networks ANET, Pure Storage PSTG and Jabil JBL. Jabil and Arista Networks currently sport a Zacks Rank #1 (Strong Buy), whereas Pure Storage currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.

The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.33 per share, up 7.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.

Arista Networks earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have decreased 5.7% in the past year.

The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 4.5% in the past year.

The Zacks Consensus Estimate for Jabil’s fiscal 2023 earnings is pegged at $8.18 per share, rising 3.8 in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.

Jabil’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 9.3%. Shares of JBL have decreased 3.2% in the past year.


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