KOMATSU LTD., The Current Fiscal Year Pretax Income Revised Upward by 3%

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Tue Oct 29, 2024 3:00 pm JST Earnings

6301 KOMATSU LTD. 【US-GAAP】

Earnings Report

KOMATSU LTD. <6301> [TSE-P] announced its financial results (based on US-GAAP) after the market closed on October 29th (15:00). The consolidated pretax income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 3.3% from the same period last year to 278 billion yen.

However, the full-year consolidated pretax income has been revised upward by 2.7%, from the previous forecast of 518 billion yen to 532 billion yen (compared to 575 billion yen in the previous period), and the declining rate is expected to decrease from 10.0% to 7.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated pretax income for the October to March period (second half) is expected to decrease by 11.9% from the same period last year to 253 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated pretax income decreased to 128 billion yen, a 8.4% decrease compared to the same period last year. The operating profit margin decreased from 16.2% in the same period last year to 14.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	1,618,735	211,634	227,759	162,568	172.0	47.8	Oct 31, 2022	US-GAAP
Apr - Sep, 2023	1,822,994	296,976	288,020	205,548	217.4	50.0	Oct 27, 2023	US-GAAP
Apr - Sep, 2024	1,968,066	303,427	278,654	201,729	215.9	52.4	Oct 29, 2024	US-GAAP
YoY	+8.0%	+2.2%	-3.3%	-1.9%	-0.7%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	83	Apr 26, 2024	US-GAAP
Apr - Sep, 2024 Results	1,968,066	303,427	278,654	201,729	215.9	83	Oct 29, 2024	US-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	3,861,000	557,000	518,000	347,000	376.0	167	Apr 26, 2024	US-GAAP
Mar, 2025 New	3,988,000	573,000	532,000	376,000	407.4	167	Oct 29, 2024	US-GAAP
Revision Rate	+3.3%	+2.9%	+2.7%	+8.4%	+8.4%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	2,042,128	310,218	287,643	187,878	198.6	95	Apr 26, 2024	US-GAAP
Oct - Mar, 2024 Guidance	2,019,934	269,573	253,346	174,271	188.8	84	Oct 29, 2024	US-GAAP
YoY	-1.1%	-13.1%	-11.9%	-7.2%	-4.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,543,475	490,685	476,434	326,398	345.2	139	Apr 28, 2023	US-GAAP
Mar, 2024	3,865,122	607,194	575,663	393,426	416.0	167	Apr 26, 2024	US-GAAP
Mar, 2025 Guidance	3,988,000	573,000	532,000	376,000	407.4	167	Oct 29, 2024	US-GAAP
YoY	+3.2%	-5.6%	-7.6%	-4.4%	-2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	923,443	149,955	139,852	100,121	105.9	16.2	Oct 27, 2023	US-GAAP
Oct - Dec, 2023	971,996	156,445	142,251	98,719	104.4	16.1	Jan 30, 2024	US-GAAP
Jan - Mar, 2024	1,070,132	153,773	145,392	89,159	94.3	14.4	Apr 26, 2024	US-GAAP
Apr - Jun, 2024	959,837	156,993	150,544	109,737	116.5	16.4	Jul 29, 2024	US-GAAP
Jul - Sep, 2024	1,008,229	146,434	128,110	91,992	98.5	14.5	Oct 29, 2024	US-GAAP
YoY	+9.2%	-2.3%	-8.4%	-8.1%	-7.0%