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

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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%