HORIBA (6856) Q1 2026 earnings summary

Executive summary

• Net sales rose 17.6% year-over-year to ¥84,529 million for Q1 2026, with operating income up 6.2% to ¥12,480 million and net income attributable to shareholders up 6.7% to ¥8,656 million.

• Comprehensive income rebounded to ¥11,569 million from a loss in the prior year, driven by improved foreign currency translation and securities gains.

Financial highlights

• Gross margin decreased as cost of sales increased faster than sales, with gross income up 9.7% year-over-year.

• Operating income margin declined to 14.8% from 16.4% year-over-year.

• EPS increased to ¥206.13 from ¥193.39 year-over-year.

• Total assets decreased to ¥511,991 million from ¥518,279 million at year-end 2025.

• Shareholders’ equity ratio remained stable at 67.2%.

Outlook and guidance

• Full-year 2026 net sales forecast raised to ¥373,000 million (+12.0% year-over-year), with operating income projected at ¥68,000 million (+28.2%).

• Net income attributable to shareholders forecast at ¥48,500 million (+30.8% year-over-year), with EPS expected at ¥1,154.88.

• Dividend forecast unchanged at ¥490 per share for FY2026.