Kewpie Corporation, December-August (Third Quarter Cumulative) Ordinary Profit Increases by 2.1 times, June-Augus Ordinary Profit Increases by 58%

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Thu Oct 3, 2024 3:00 pm JST Earnings

2809 Kewpie Corporation 【J-GAAP】

Earnings Report

Kewpie Corporation <2809> [TSE-P] announced its financial results after the market closed on October 3rd (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2024 (December 2023 to August 2024) surged by 2.1 times that of the same period last year, reaching 32.1 billion yen. The progress rate against the 36.1 billion yen full-year plan was 89.1%, also surpassing the five-year average of 77.5%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to November period (4Q) is expected to decrease by 27.5% from the same period last year to 3.91 billion yen.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit increased by 57.7% from the same period last year, reaching 11.8 billion yen. The operating profit margin significantly improved from 5.6% in the same period last year to 8.8%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Dec - Aug, 2021	318,214	21,407	22,945	14,541	104.6	84.2	Oct 7, 2022	J-GAAP
Dec - Aug, 2022	335,897	13,341	15,083	11,081	79.7	73.6	Oct 5, 2023	J-GAAP
Dec - Aug, 2023	360,911	29,815	32,182	19,756	142.1	89.1	Oct 3, 2024	J-GAAP
YoY	+7.4%	+123.5%	+113.4%	+78.3%	+78.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jun - Nov, 2023	234,704	12,848	12,938	8,377	60.3	27	Jan 10, 2024	J-GAAP
Jun - Nov, 2024 Guidance	249,166	15,118	15,794	8,187	58.9	31	Jul 4, 2024	J-GAAP
YoY	+6.2%	+17.7%	+22.1%	-2.3%	-2.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2022	430,304	25,433	27,249	16,033	115.3	47	Jan 10, 2023	J-GAAP
Nov, 2023	455,086	19,694	20,490	13,174	94.8	50	Jan 10, 2024	J-GAAP
Nov, 2024 Guidance	486,000	34,000	36,100	20,700	148.9	54	Jul 4, 2024	J-GAAP
YoY	+6.8%	+72.6%	+76.2%	+57.1%	+57.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	115,515	6,495	7,531	6,284	45.2	5.6	Oct 5, 2023	J-GAAP
Sep - Nov, 2023	119,189	6,353	5,407	2,093	15.1	5.3	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	114,632	8,149	8,849	6,038	43.4	7.1	Apr 5, 2024	J-GAAP
Mar - May, 2024	122,202	10,733	11,457	6,475	46.6	8.8	Jul 4, 2024	J-GAAP
Jun - Aug, 2024	124,077	10,933	11,876	7,243	52.1	8.8	Oct 3, 2024	J-GAAP
YoY	+7.4%	+68.3%	+57.7%	+15.3%	+15.3%