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Daikin (MX:6367N)
:6367N
Mexico Market
EarningsQ1 2026 Earnings Report

Daikin (6367N) Q1 2026 Earnings Report

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MX:6367N Q1 2026 EPS Results

Actual EPS$31.90
Consensus EPS$33.49
Beat/MissMissed by -$1.58
One Year Ago EPS$31.66

MX:6367N Q1 2026 Revenue Results

Actual Revenue$162.23B
Expected Revenue$153.42B
Beat/MissBeat by +$8.81B
YoY Revenue Growth+17.55%

Earnings Announcement Details

QuarterQ1 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:6367N Upcoming Earnings
Daikin's next earnings date is estimated for November 5, 2026, based on past reporting schedules.

Q1 2026 Earnings Call Audio

MX:6367N Q1 2026 Earnings Call
0:00 / 0:00

Q1 2026 Earnings Slide Deck

Q1 2026 Earnings Call Summary

Q1 2026
Earnings Call Date:Aug 04, 2026|
% Change Since:
|
Earnings Call Sentiment|Neutral
The call conveyed a mixed picture: management reported strong profitability progress in Q1 — including a 10% operating margin, absorbed near-term tariff effects (JPY 7.5 billion) and regionally strong performances (DNA sales +13% local currency, DNA margin +2pp) — while acknowledging persistent demand weakness in key end markets (US housing, China real estate), significant declines in the chemicals business, inventory and tariff uncertainties, and Q1 sales slightly below plan. Management emphasized a clear shift to profit-oriented management, pricing discipline, and continued investment to drive recovery.
Company Guidance
Management reiterated guidance to “further exceed” its FY2026 operating profit plan of JPY435 billion, saying the May-estimated tariff hit of about JPY47 billion is now expected to be less than JPY47 billion and that Q1’s direct tariff impact of ≈JPY7.5 billion was fully absorbed by ~JPY5.0 billion of price increases and ~JPY2.5 billion of cost reductions; Q1 delivered a 10% operating margin (above plan). Key metrics cited: DNA sales were 113% of prior year (local currency) with DNA operating margin 11% (+2 pp) and DAA margin 9%; air‑conditioning real YoY sales by region were Europe 102%, China 93%, Americas 104%, Asia 90%; chemicals real YoY were Americas 115%, China 95%, Europe 99%; China residential multi‑split sales 99% YoY; heat‑pump heating sales 110% YoY. Management also noted R32 price rises of about 5% in April and 5% in May (selling‑price/product‑mix ~+7 pp to DNA), US industry shipments running ~84–85% in Q1, Win‑Back progress ~45% at end‑June, R410A distribution inventory expected to approach zero by end‑September, inventories slightly up in real terms but overall slightly below internal plan, and a commitment to further price increases, cost reductions, supply/production shifts and six group‑wide initiatives to meet targets.
Operating Profit Margin Improvement to 10% in Q1
Company achieved an operating profit margin of 10% in Q1, exceeding its internal plan and described as record profit levels. Management expects to further exceed the annual operating profit plan (JPY 435 billion) if progress continues.
Tariff Impact Absorbed in Q1
The direct negative impact of US tariff measures in Q1 was approximately JPY 7.5 billion on an operating profit basis and was fully absorbed through selling price increases (~JPY 5.0 billion) and cost reductions (~JPY 2.5 billion). Management now expects full-year tariff impact to be less than the previously announced JPY 47 billion, though uncertainty remains.
Solid Regional / DNA Performance
Air conditioning sales in real terms (ex-FX) were: Europe 102% YoY, Americas 104% YoY, China 93% YoY, Asia 90% YoY. Daikin Comfort Technologies North America (DNA) sales were 113% of prior year on a local currency basis, with DNA operating margin at 11% (up 2 percentage points YoY).
Growth in Select Chemicals & Heat Pump Segments
Chemicals sales in the Americas expanded (real YoY 115%) and sales of coating materials for LAN/data-center cables grew. Heat pump hot-water heating sales in Europe were 110% of the prior year, indicating market share gains in a weak recovery.
Improved Profit Focus and Pricing Execution
Management shifted to profit-oriented budget management: implemented strategic selling price measures (e.g., R32 price increases ~5% in April and ~5% in May leading to ~7 percentage points effective selling-price contribution in DNA) and promoted higher sales mix of high value-added products and cost reductions. Q1 gross profit exceeded internal plan despite slightly lower sales.
CapEx, R&D and Investment Plans Intact
Company continues planned investments in production capacity, R&D and digital initiatives; no changes to annual capital expenditure, depreciation or R&D plans were announced.

MX:6367N Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Nov 05, 2026
2026 (Q2)
34.15 / -
30.833―
Aug 04, 2026
2026 (Q1)
33.49 / 31.90
31.6580.78% (+0.25)
2025 (Q4)
24.62 / 31.01
30.3072.31% (+0.70)
2025 (Q3)
22.50 / 13.37
13.612-1.76% (-0.24)
2025 (Q2)
29.77 / 30.83
34.391-10.34% (-3.56)
2025 (Q1)
27.54 / 31.66
24.50629.18% (+7.15)
2024 (Q4)
26.49 / 30.31
25.81217.42% (+4.50)
2024 (Q3)
23.62 / 13.61
15.862-14.19% (-2.25)
2024 (Q2)
28.80 / 34.39
28.25521.72% (+6.14)
2024 (Q1)
32.11 / 24.51
31.175-21.39% (-6.67)
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