HORIBA (6856) Q1 2026 earnings summary

Executive summary

• Achieved record-high Q1 2026 sales of ¥84,529 million, operating profit of ¥12,480 million, and net income of ¥8,656 million, up 6.7% year-over-year, driven by increased sales across all fields.

• Comprehensive income rebounded to ¥11,569 million from a prior-year loss, aided by improved foreign currency translation and securities gains.

• Upward revision of full-year 2026 forecasts for sales, operating profit, and net income, reflecting favorable exchange rates and strong order trends.

Financial highlights

• Q1 2026 sales rose 17.6% year-over-year to ¥84.5B; operating profit up 6.2% to ¥12.4B; net income up 6.7% to ¥8.6B.

• Operating margin decreased by 1.6 percentage points to 14.8% year-over-year.

• EPS increased to ¥206.13 from ¥193.39 year-over-year.

• Gross margin decreased as cost of sales increased faster than sales, with gross income up 9.7% year-over-year.

• Shareholders’ equity ratio remained stable at 67.2%.

Outlook and guidance

• 2026 sales forecast raised to ¥373.0B (+12% vs previous forecast), operating profit to ¥68.0B (+21.4%), and net income to ¥48.5B (+19.8%).

• Net income attributable to shareholders forecast at ¥48,500 million (+30.8% year-over-year), with EPS expected at ¥1,154.88.

• Dividend forecast for 2026 at ¥490 per share, maintaining a 30% payout ratio target.

• Upward revisions mainly driven by strong performance in Materials & Semiconductor and favorable exchange rates.