Denso cuts full-year operating profit forecast by 3.1% By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Source: Investing.com
Denso's Profit Forecast Adjustment: Denso has reduced its full-year operating profit forecast by 3.1% to 692 billion yen, missing analysts' average estimate, despite reporting a first-quarter profit that rose 28% year-on-year.
Impact of Market Conditions: The company attributed the profit decrease to lower-than-expected production volumes amid poor vehicle sales in Asia, while also noting gains from foreign exchange and profitability efforts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
