Fanuc Weathers the Chinese Economic Slowdown with its Wide Moat
Wide-moat Fanuc posted weaker third-quarter fiscal 2018 (quarter-ending December 2018) results featuring a 20% year-over-year decrease in revenue and a 42% decrease in operating income. Management made mild reductions to its full-year guidance with operating profit guidance reduced by 2% to JPY 147.9 billion. Highlighting the potential impact of the trade war, Fanuc’s sales in China were down 56%, and the Americas were down 19%. We downgrade our earnings forecast by midteens levels and increase ...
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