Nippon Steel & Sumitomo ( (NPSCY) ) has released its Q3 earnings. Here is a breakdown of the information Nippon Steel & Sumitomo presented to its investors.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Nippon Steel Corporation, a leading player in the steel manufacturing industry, operates across multiple stock exchanges in Japan, focusing on steel production and related sectors.
In the third quarter of fiscal 2024, Nippon Steel reported a revenue of ¥6,552.4 billion and a business profit of ¥566.1 billion. The company faced a challenging market environment with declining demand and pressure from imported materials, yet maintained stable earnings.
Key financial metrics for the period show a slight decline in revenue compared to the previous year, with a 1.3% drop. Business profit decreased by 18.2%, and profit attributable to owners of the parent fell by 17.9%. Despite these declines, Nippon Steel’s equity ratio improved to 47.7%, reflecting a strengthened financial position. The company also announced a projected full-year dividend of ¥160 per share, consistent with the previous year.
Looking ahead, Nippon Steel forecasts a revenue of ¥8,600 billion and a business profit of ¥670 billion for the full fiscal year 2024. The management remains cautious amid market uncertainties but is committed to securing stable earnings and enhancing operational efficiency. The company plans to announce forecasts for fiscal 2025, considering evolving domestic and international market conditions.
