Isuzu Motors (7202) Q1 2026 earnings summary

Executive summary

• Revenue increased 3.6% year-over-year to 779.9 billion yen, but operating profit declined 27.7% to 57.2 billion yen due to adverse FX, cost increases, and destination mix deterioration.

• Profit attributable to owners of parent fell 19.8% to 41.4 billion yen.

• Global unit sales rose 13%, with strong growth in Japan, Middle East, Africa, and Thailand, but North America saw declines from dealer inventory reductions.

• Market share improved in both heavy/medium and light-duty truck segments in Japan, despite flat or declining industry sales.

• Comprehensive income dropped 52.5% year-over-year to 43.6 billion yen, reflecting weaker profitability and adverse foreign exchange impacts.

Financial highlights

• Gross profit for the quarter was 156.3 billion yen, down from 175.0 billion yen in the prior year period.

• Basic earnings per share decreased to 58.18 yen from 68.95 yen year-over-year.

• Cash and cash equivalents rose to 385.2 billion yen as of June 30, 2025, up 26.5 billion yen from March 31, 2025.

• Net cash provided by operating activities was 63.4 billion yen, down 17.4% year-over-year.

• Revenue from aftersales business increased by 7.0 billion yen year-over-year.

Outlook and guidance

• Full-year FY2026 revenue is forecast at 3,300 billion yen (+2.0% year-over-year), with operating profit expected to decline 8.5% to 210 billion yen and profit attributable to owners of parent to decrease 7.2% to 130 billion yen.

• Basic earnings per share for FY2026 is projected at 184.25 yen, factoring in the impact of ongoing share repurchases.

• Company transitioned to IFRS reporting, impacting comparability with prior periods.

• Dividend payout ratio projected at 49.9% for FY2026, with stable dividend per share outlook.

• No changes have been made to the previously announced full-year guidance.