TOKYO (dpa-AFX) - Hitachi Construction Machinery Co., Ltd. (HCM.F) reported Tuesday higher earnings in its first half, despite weak revenues. Further, the Japanese construction equipment maker raised its outlook for fiscal year, still expecting lower profit and revenues.
In Tokyo, the shares closed Tuesday's trading at 5,030.00 yen, down 2.88 percent.
In the first half, net income attributable to owners of the parent climbed 19 percent to 37.75 billion Japanese yen from last year's 31.75 billion yen. Earnings per share grew to 177.46 yen from 149.26 yen a year ago.
Adjusted operating income, meanwhile, dropped 15.7 percent to 60.15 billion yen from prior year's 71.31 billion yen.
Revenues also dropped 1.8 percent to 654.05 billion yen from 665.74 billion yen a year ago.
Looking ahead for the 12-month period to March 31, 2026, Hitachi now expects attributable net income of 74 billion yen, compared to previous estimate of 73 billion yen.
Profit per share is now anticipated to be 347.86 yen, higher than the 343.15 yen per share expected earlier.
Hitachi now projects adjusted operating income of 132 billion yen and revenue of 1.32 trillion yen.
The previous revenue guidance was adjusted operating income of 130 billion yen and revenues of 1.30 trillion yen.
On an year-over-year basis, the company projects attributable profit to be down 9.1 percent, adjusted operating income down 9 percent and revenues down 3.7 percent.
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