bearish
Olympus Corp (7733 JP): Q3 Operating Profit Misses Estimates Despite Sales Beat; FY24 Guidance Cut
238 Views28 Feb 2024 09:30
SUMMARY
- Olympus Corp (7733 JP) announced disappointing Q3FY24 result. Although revenue increased 7% YoY to ¥239B, beating estimate of ¥236B, operating profit declined 30% YoY to ¥34B, below estimate of ¥43B.
- The company cut FY24 operating profit guidance for second time and reduced revenue guidance after raising it in November. Noto Peninsula earthquake is the main reason for reducing revenue guidance.
- Although both revenue and profits are expected to improve in FY25, it will be difficult to achieve an operating margin of 20% and sales growth of 5%.
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Tina Banerjee
Global Healthcare Analyst
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