Q3 2026 Terumo Corp Earnings Call Transcript
Key Points
- Terumo Corp (TRUMF) reported record-high revenue for the third quarter, driven by strong demand in North America with a 9% growth excluding FX impact.
- Operating profit and adjusted operating profit reached record highs, surpassing revenue growth.
- The Cardiac and Vascular Company and Blood and Cell Technologies were key drivers of global demand expansion.
- Pricing measures and cost control effectively offset the negative impacts of tariffs, leading to results exceeding fiscal '25 guidance.
- The acquisition of OrganOx contributed positively to the consolidated results, with a significant year-on-year revenue increase of 50% and improved profit margins.
- The operating profit margin declined on a standalone Q3 basis due to recognition of onetime expenses.
- The Leverkusen plant acquisition resulted in a negative impact on profit of JPY1.6 billion.
- Foreign exchange had a negative impact on both flow and stock basis compared to the previous year.
- Revenue declined in the Hospital Care Solutions and Life Care Solutions businesses due to previous business transfers and supply issues.
- The negative impact from tariffs increased in Q3, partially offsetting the positive effects of pricing measures.
(interpreted) Hello. This is Hagimoto, CFO of Terumo. Let me walk you through the highlights of our financial results. Thank you very much for your participation today. So this is the highlights of our financial results for the third quarter of the fiscal year ending March '26.
First of all, the highlights, strong earnings results exceeding guidance. So for revenue with the highest ever results, both for the quarter and the third quarter year-to-date. We had strong sales led by North America with 9% growth excluding the FX impact.
In particular, revenue reached record highs, both for the quarter, in particular, demand growth in North America remained strong, resulting in a year-on-year increase of 9%, excluding FX impact. With regard to profits, operating profit -- adjusted operating profit and profit for the year all reached record highs on a Q3 year-to-year basis.
Although we recorded certain onetime expenses from the first half of the fiscal year, our
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