EarningsQ2 2024 Earnings Report

IHI (IHICF) Q2 2024 Earnings Report

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Previous Report: Q1 2024

Next Report: Q3 2024

IHICF Q2 2024 EPS Results

Actual EPS$0.12

Consensus EPS$0.14

Beat/MissMissed by -$0.01

One Year Ago EPS-$0.86

IHICF Q2 2024 Revenue Results

Actual Revenue$2.60B

Expected Revenue$2.55B

Beat/MissBeat by +$48.94M

YoY Revenue Growth+138.18%

Earnings Announcement Details

QuarterQ2 2024

Date11/06/2024

TimeTBA

Conference CallWednesday, November 6, 2024

IHICF Upcoming Earnings

IHI's next earnings date is estimated for November 10, 2026, based on past reporting schedules.

Q2 2024 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q2 2024 Earnings Slide Deck

Q2 2024 Earnings Call Summary

Q2 2024

Earnings Call Date:Nov 06, 2024|

% Change Since:

Earnings Call Sentiment|Negative

The earnings call revealed significant challenges, including large one-time losses and decreased operating profit, overshadowing some growth in the Aero Engine and Defense business and stability in large plant projects.

Company Guidance

During the IHI Group's second-quarter earnings call for the fiscal year 2023, several key metrics and financial figures were discussed. The group reported a one-time loss primarily due to the PW1100G engine inspection program and North America process plant litigation settlement, leading to an operating profit of negative JPY 157 billion. Excluding special factors, the orders received were JPY 640 billion, and revenue was JPY 639 billion, with an operating profit of JPY 16 billion. The foreign exchange rate averaged JPY 140.62 to the U.S. dollar, reflecting a JPY 9 depreciation from the previous year. The company's total assets increased by JPY 111.3 billion, reaching JPY 2,053.3 billion, while interest-bearing debt rose to JPY 644.7 billion. The debt-equity ratio was 1.98x, with a 14.5% ratio of equity attributable to the owners of the parent. Operating cash flow stood at JPY 81.4 billion, while free cash flow was negative JPY 112.8 billion. The guidance emphasized the need for improving cash flow and working capital, aiming to recover to the fiscal 2022 financial foundation with a focus on enhancing profitability and maintaining dividend payouts.

Aero Engine and Defense Business Growth

The Aero Engine and Defense business saw an increase in orders totaling JPY 29.5 billion, driven by civil aero engine PW1100G and other main engine units.

Positive Outlook for Defense Sector

The increase in defense budget is seen as a positive development, with expectations for increased demand in spare parts and missile production, contributing to future growth.

Stability in Large Plant Projects

Large-scale power plant projects in Bangladesh and Vietnam are operating smoothly and showing profit, reducing downside risks associated with these projects.

IHICF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 10, 2026	2026 (Q2)	0.17 / -	0.265	―
Aug 05, 2026	2026 (Q1)	0.32 / 0.32	0.069	361.05% (+0.25)
May 08, 2026	2025 (Q4)	0.21 / 0.45	0.215	111.23% (+0.24)
Feb 10, 2026	2025 (Q3)	0.16 / 0.17	0.224	-22.40% (-0.05)
Nov 06, 2025	2025 (Q2)	0.17 / 0.27	0.124	113.72% (+0.14)
Aug 06, 2025	2025 (Q1)	0.11 / 0.07	0.111	-37.57% (-0.04)
May 08, 2025	2024 (Q4)	0.19 / 0.22	0.248	-13.14% (-0.03)
Feb 07, 2025	2024 (Q3)	0.16 / 0.22	0.168	33.90% (+0.06)
Nov 06, 2024	2024 (Q2)	0.14 / 0.12	-0.858	114.47% (+0.98)
Aug 06, 2024	2024 (Q1)	0.09 / 0.11	0.034	232.18% (+0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed