Isuzu Motors (7202) Q3 2026 earnings summary

Executive summary

• Revenue for FY2026 3Q (Apr–Dec 2025) rose 5.3% year-over-year to ¥2,511.5 billion, but operating profit declined by 12.4% to ¥172.5 billion due to adverse FX, tariffs, and cost pressures.

• Net profit attributable to owners was ¥121.2 billion, down 1.1% from the prior year.

• Comprehensive income increased to ¥238.2 billion, up from ¥186.7 billion in the prior year period.

• Global unit sales increased 10% year-over-year, with notable growth in Japan, Thailand, Africa, and Oceania, but declines in North America due to inventory adjustments and weaker demand.

Financial highlights

• Gross profit for the period was ¥492.7 billion, down from ¥503.4 billion year-over-year.

• Basic earnings per share increased to ¥172.67 from ¥165.53 year-over-year.

• Total assets grew to ¥3,548.0 billion, and total equity reached ¥1,635.7 billion as of December 31, 2025.

• Cash and cash equivalents increased by ¥42.3 billion to ¥401.0 billion.

• 3Q (Oct–Dec 2025) saw revenue of ¥874.2 billion (+5%), operating profit of ¥67.9 billion (+6%), and net profit of ¥51.4 billion (+17%) compared to the same quarter last year.

Outlook and guidance

• Full-year FY2026 revenue forecast is ¥3,300.0 billion, up 2% from FY2025.

• Operating profit is projected at ¥210.0 billion, down 8.5% year-over-year.

• Net profit attributable to owners is forecast at ¥130.0 billion, a 7.2% decrease.

• No change in full-year profit outlook, as lower North American CV sales are expected to be offset by FX gains and cost reductions.

• The company notes risks from global economic trends and exchange rate fluctuations.