Fanuc Reported Mixed Third-Quarter Result, Raising Fanuc’s FVE Slightly to JPY 19,000
Wide moat Fanuc reported mixed third-quarter results. While the top line grew 2.9% sequentially (down 3.2% year over year), which was largely in line with our expectation, higher fixed costs due to new investments on capacity expansion (Mibu factory) and R&D have dragged on the company’s profitability. Operating margin fell to 25% from 28.2% in the second quarter. The company revised up its full-year revenue and operating income guidance by around 4%, mainly reflecting a lower Japanese yen a...
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