IHI (7013) Q3 2026 earnings summary

Executive summary

• Orders reached a record ¥1,364.8 billion in Q3 FY2025, driven by strong nuclear energy demand and robust performance in key segments.

• Revenue declined 1.8% year-over-year to ¥1,129.3 billion, mainly due to prior large project completions and business divestitures.

• Operating profit remained at last year's record level at ¥102.5 billion, despite lower revenue and higher maintenance costs.

• Profit attributable to owners of parent hit a record high of ¥85.0 billion, aided by improved equity method investment income and gains from business transfers.

• Structural reforms and business portfolio changes accelerated, focusing on overseas energy business restructuring and divestitures.

Financial highlights

• Orders up 12.4% year-over-year to ¥1,364.8 billion; revenue down to ¥1,129.3 billion.

• Operating profit at ¥102.5 billion (−0.9% YoY); profit attributable to owners at ¥85.0 billion (+10.7% YoY).

• EBITDA: ¥158.7 billion (14.1% margin); basic EPS: 80.21 Yen.

• Total assets increased to ¥2,454.4 billion; equity attributable to owners rose to ¥563.7 billion.

• Gains from business divestitures offset structural reform costs and energy segment downturn.

Outlook and guidance

• FY2025 order forecast revised upward to ¥1,940.0 billion (+¥90.0 billion); revenue expected at ¥1,640.0 billion.

• Operating profit projected at ¥125.0 billion; profit attributable to owners at ¥145.0 billion; basic EPS forecast at 117.49 Yen.

• All major financial metrics for FY2025 are expected to reach record highs.

• Annual operating cash flow forecast at ¥100.0 billion, with significant Q4 inflows expected.

• Dividend forecast remains unchanged at ¥120.00 per share (post-stock split).