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Tohoku Electric Power Company,Incorporated, First Half Ordinary Profit Decreases by 30%, July-September Ordinary Profit Decreases by 40%

Thu Oct 31, 2024 3:00 pm JST Earnings

9506 Tohoku Electric Power Company,Incorporated 【J-GAAP】

Earnings Report

Tohoku Electric Power Company,Incorporated <9506> [TSE-P] announced its financial results after the market closed on October 31st (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 30.0% from the same period last year to 153 billion yen. The progress rate against the 190 billion yen full-year plan was 80.7%, below the five-year average of 86.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop by 49.6% from the same period last year to 36.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 63.2 billion yen, a 40.4% decrease compared to the same period last year. The operating profit margin decreased from 14.7% in the same period last year to 10.7%.

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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 1,339,715 -126,270 -131,913 -136,359 -272.8 ー Oct 28, 2022 J-GAAP
Apr - Sep, 2023 1,387,835 227,541 219,166 155,394 310.8 75.1 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 1,311,573 168,773 153,355 106,030 212.0 80.7 Oct 31, 2024 J-GAAP
YoY -5.5% -25.8% -30.0% -31.8% -31.8%

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 － 15 Apr 30, 2024 J-GAAP
Apr - Sep, 2024 Results 1,311,573 168,773 153,355 106,030 212.0 15 Oct 31, 2024 J-GAAP
Revision Rate － － － － －

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 1,429,978 94,722 72,774 70,708 141.4 10 Apr 30, 2024 J-GAAP
Oct - Mar, 2024 Guidance 1,518,427 51,227 36,645 23,970 47.9 15 Oct 31, 2024 J-GAAP
YoY +6.2% -45.9% -49.6% -66.1% -66.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 3,007,204 -180,054 -199,277 -127,562 -255.1 0 Apr 28, 2023 J-GAAP
Mar, 2024 2,817,813 322,263 291,940 226,102 452.1 15 Apr 30, 2024 J-GAAP
Mar, 2025 Guidance 2,830,000 220,000 190,000 130,000 259.9 30 Apr 30, 2024 J-GAAP
YoY +0.4% -31.7% -34.9% -42.5% -42.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 754,259 110,739 106,095 76,226 152.4 14.7 Oct 31, 2023 J-GAAP
Oct - Dec, 2023 668,480 64,877 59,727 40,910 81.8 9.7 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 761,498 29,845 13,047 29,798 59.6 3.9 Apr 30, 2024 J-GAAP
Apr - Jun, 2024 614,563 93,957 90,135 60,566 121.1 15.3 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 697,010 74,816 63,220 45,464 90.9 10.7 Oct 31, 2024 J-GAAP
YoY -7.6% -32.4% -40.4% -40.4% -40.4%

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