Canon Raises FY21 Financial Outlook Following Continued Demand Printers, Cameras, Other Equipment

  • Canon Inc CAJ increased its FY21 financial estimates due to continued higher demand for inkjet printers in Q2, including, cameras particularly for full-frame mirrorless cameras and interchangeable lenses, medical and semiconductor lithography equipment. 
  • It expects the favorable market environment to continue in the second half of the year despite the crisis-induced inflation. It expects higher print demand as more people resume office following vaccination.
  • It sees a net sales of ¥3.6 million, up from ¥3.5 million.
  • The company increased the operating margin guidance by 220 basis points to 7.9%.
  • It raised the EPS guidance from ¥133.89 to ¥192.23.
  • Price action: CAJ shares traded higher by 1.76% at $23.08 in the premarket session on the last check Monday.
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