reports
- Dan Baker
Morningstar | Fanuc Upgrading Its Factories and Fighting Macro Headwin...
Wide-moat Fanuc announced over the past three months, that it will build two new factories. It will replace its two existing Robonano factories with a larger and more advanced one, which will introduce the turning functionality into the current Robonano for machining. The company will invest JPY 3.5 billion in the new factory and should be ready to start production in October 2019. A similar project will be undertaken combining the two existing Servo motor parts machining factories into one new ...
- Dan Baker
Morningstar | Fanuc Upgrading Its Factories and Fighting Macro Headwin...
Wide-moat Fanuc announced over the past three months, that it will build two new factories. It will replace its two existing Robonano factories with a larger and more advanced one, which will introduce the turning functionality into the current Robonano for machining. The company will invest JPY 3.5 billion in the new factory and should be ready to start production in October 2019. A similar project will be undertaken combining the two existing Servo motor parts machining factories into one new ...
- Dan Baker
Fanuc Upgrading Its Factories and Fighting Macro Headwinds; FVE Reduce...
Wide-moat Fanuc announced over the past three months, that it will build two new factories. It will replace its two existing Robonano factories with a larger and more advanced one, which will introduce the turning functionality into the current Robonano for machining. The company will invest JPY 3.5 billion in the new factory and should be ready to start production in October 2019. A similar project will be undertaken combining the two existing Servo motor parts machining factories into one new ...
- Dan Baker
Short-Term Headwinds for Fanuc Provide Investment Opportunities for th...
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 increas...
- Dan Baker
Morningstar | Fanuc Weathers the Chinese Economic Slowdown with its Wi...
As the world’s largest manufacturer of computer numerical control, or CNC, systems and industrial robots, with around 50% and 20% market share, respectively, Fanuc plays a critical role in factory automation for downstream manufacturers, including Tier 1 auto firms such as General Motors and smartphone-makers such as Hon Hai. The company has been focusing on key motion-control technologies and produces most of the core components in the automation space in-house. Over the past 10 years, resear...
- Dan Baker
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 increas...
- Dan Baker
Morningstar | Fanuc Hit by China Slowdown, and We Downgrade Our FVE to...
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 increas...
- Dan Baker
Morningstar | Fanuc Hit by China Slowdown, and We Downgrade Our FVE to...
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 increas...
- Dan Baker
Fanuc Hit by China Slowdown, and We Downgrade Our FVE to JPY 23,700
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 increas...
- Dan Baker
Morningstar | Fanuc Hit by China Slowdown; We Downgrade Our FVE to JPY...
Wide-moat Fanuc posted weaker fiscal 2018 second-quarter (ended September) results featuring a 9.5% year-over-year decrease in revenue and 22.8% decrease in operating income. Management made mild reductions in its full-year guidance, with revenue guidance reduced by 2% to JPY 626 billion and operating profit guidance reduced by 5% to JPY 150.9 billion. The new guidance implies 19% and 51% reductions in second-half revenue and operating profit, respectively. Highlighting the potential impact of t...
- Dan Baker
Morningstar | Fanuc Hit by China Slowdown; We Downgrade Our FVE to JPY...
Wide-moat Fanuc posted weaker fiscal 2018 second-quarter (ended September) results featuring a 9.5% year-over-year decrease in revenue and 22.8% decrease in operating income. Management made mild reductions in its full-year guidance, with revenue guidance reduced by 2% to JPY 626 billion and operating profit guidance reduced by 5% to JPY 150.9 billion. The new guidance implies 19% and 51% reductions in second-half revenue and operating profit, respectively. Highlighting the potential impact of t...
- Dan Baker
World's Largest Computerized Numerical Control Provider Will Ride Out ...
Wide-moat Fanuc posted strong first-quarter fiscal 2018 (quarter-ending June 2018) results featuring a 7.9% year-over-year increase in operating income. However, while management marginally upgraded its full-year guidance, the new guidance continues to look very conservative to us. The new guidance implies a 12% reduction in sales for the full year and a 31% reduction in operating profit, which would imply an 18.6% reduction in revenue and a 41.4% reduction in operating profit for the remaining ...
- Dan Baker
Morningstar | Fanuc Lifts its 2018 Guidance Slightly but we Downgrade ...
Wide-moat Fanuc posted strong first-quarter fiscal 2018 (quarter-ending June 2018) results featuring a 7.9% year-over-year increase in operating income. However, while management marginally upgraded its full-year guidance, the new guidance continues to look very conservative to us. The new guidance implies a 12% reduction in sales for the full year and a 31% reduction in operating profit, which would imply an 18.6% reduction in revenue and a 41.4% reduction in operating profit for the remaining ...
- Dan Baker
Morningstar | Fanuc Lifts its 2018 Guidance Slightly but we Downgrade ...
Wide-moat Fanuc posted strong first-quarter fiscal 2018 (quarter-ending June 2018) results featuring a 7.9% year-over-year increase in operating income. However, while management marginally upgraded its full-year guidance, the new guidance continues to look very conservative to us. The new guidance implies a 12% reduction in sales for the full year and a 31% reduction in operating profit, which would imply an 18.6% reduction in revenue and a 41.4% reduction in operating profit for the remaining ...
- Dan Baker
Fanuc Lifts its 2018 Guidance Slightly but we Downgrade FVE to JPY 30,...
Wide-moat Fanuc posted strong first-quarter fiscal 2018 (quarter-ending June 2018) results featuring a 7.9% year-over-year increase in operating income. However, while management marginally upgraded its full-year guidance, the new guidance continues to look very conservative to us. The new guidance implies a 12% reduction in sales for the full year and a 31% reduction in operating profit, which would imply an 18.6% reduction in revenue and a 41.4% reduction in operating profit for the remaining ...
- Shanshan Wei
- CFA
Fanuc’s Short-Term Earnings Should Peak, Raising FVE to JPY 26,700 o...
Wide-moat Fanuc finally delivered strong numbers in the second quarter with its new capacity ramping up. Revenue and operating income beat our forecast and consensus by 9% and 4% year over year, respectively, driven by a jump in Robomachine sales. The strong capital expenditure demand for major model upgrades from September including iPhone and local brands has boosted the segmental sales in the first two quarters, though we still believe the growth rate will slowdown in the second half as evide...
- Shanshan Wei
- CFA
The self-sufficiency for key components in the automation space benefi...
Wide-moat Fanuc’s first-quarter operating income grew 21% year over year, which was largely in line with our forecast. However, judging from the highest book/bill ratio (1.18 times) over the past five years and from cross-checking with its peers, the capacity constraints seem to have limited sales growth, and actual demand, particularly in China, has been stronger than we expected. Fanuc’s FA segment, which sells computer numerical control, or CNC, systems, saw 16% quarterly order growth, bu...
- Shanshan Wei
- CFA
The self-sufficiency for key components in the automation space benefi...
Wide-moat Fanuc’s full-year earnings beat our estimate as fourth-quarter FA and robot segment sales gained 30% and 19%, respectively. This more than offset a 27% drop in Robomachine segment sales from the high base last year as smartphone-related demand flattened. While we are encouraged by the 22% year-over-year growth in fourth-quarter orders and also by the company’s expectation that the recent strong growth will carry over to first-half fiscal 2017 (financial year ending March 2018), Fan...
- Shanshan Wei
- CFA
Fanuc Reported Mixed Third-Quarter Result, Raising Fanuc’s FVE Sligh...
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.....
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.