JFE Holdings Reports 74% Drop in Quarterly Net Income and Misses Expectations

JFE Holdings Reports Significant Drop in First-Quarter Earnings and Misses Market Expectations In its latest financial disclosure, JFE Holdings revealed a substantial decline in net income for the first quarter, amounting to 7.13 billion yen—down 74% from the previous year—and falling well below analyst forecasts. The company's net sales during this period totaled 1.12 trillion yen, representing a 7.9% decrease year-on-year and missing projections. The steel segment generated revenue of 761.22 billion yen, slightly exceeding estimates but reflecting a 12% decline compared to the same quarter last year. Meanwhile, engineering revenue experienced a 9.3% growth, reaching 135.36 billion yen, surpassing market expectations. Trading revenue declined by 5.5% to 338.74 billion yen. Overall, business profit plummeted by 71%, totaling 16.26 billion yen. Looking ahead, JFE forecasts net sales of approximately 2.33 trillion yen and net income of 15 billion yen for the first half of the year. The company maintains its annual outlook for 2026, projecting net sales of 4.75 trillion yen, net income of 75 billion yen, and a dividend of 80 yen per share. Analyst insights from Smartkarma, includi...