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Mitsubishi Heavy Industries' Profit Jumps 97% in Fiscal Q1

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Mitsubishi Heavy Industries' Profit Jumps 97% in Fiscal Q1

Mitsubishi Heavy Industries' (TYO:7011) attributable profit for the first quarter of the 2026 fiscal year nearly doubled as orders for its gas-powered plants surged.

Profit attributable to owners jumped 97% to 134.7 billion Japanese yen from 68.2 billion yen a year earlier, with earnings per share rising to 40.07 yen from 20.31 yen, the industrial machinery maker said in a Tuesday earnings report.

Revenue climbed 15.5% to 1.194 trillion yen from 1.034 trillion yen the previous year.

The company's order intake jumped 26% to 2.022 trillion yen from 1.609 trillion yen, boosted by its gas turbine combined cycle, or GTCC, segment as more enterprises cut reliance on coal power and seek more green energy alternatives.

Mitsubishi Heavy retained its earnings forecast for the full fiscal year ending March 31, 2027, expecting a 14.4% jump in attributable profit to 380 billion yen, or 113.09 yen per share, and revenue to grow 8.6% to 5.4 trillion yen.

The company also lifted its outlook for order intake to 7 trillion yen from 6.8 trillion yen, boosted by strong demand in the GTCC and nuclear power segments.

Mitsubishi Heavy expects to pay a full-year dividend of 29 yen, up from 25 yen in the previous fiscal year.

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