Hitachi GAAP EPS of ¥683.89, revenue of ¥10.88T
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 26 2024
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Source: SeekingAlpha
- Hitachi Financial Performance: Hitachi reported FY GAAP EPS of ¥683.89 with revenue of ¥10.88T, showing an 11.9% year-over-year increase. Adjusted operating income rose by 7.6 billion yen to 755.8 billion yen.
- Profit Growth Sectors: Hitachi's Digital Systems & Services, Green Energy & Mobility, and Connective Industries sectors saw increased profits contributing to the overall growth.
- Adjusted EBITA Increase: Hitachi's adjusted EBITA surged by 33.5 billion yen year over year to 918.1 billion yen, primarily driven by higher equity in earnings of affiliates and increased adjusted operating income.
- Investment Plans: Hitachi plans to invest an additional $1.5 billion for global transformer production, indicating a strategic move towards expanding its energy-related operations.
- Leadership Change: Hitachi Energy is set to appoint Andreas Schierenbeck as CEO, suggesting a shift in leadership focus within the company.
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.
