PARKER CORPORATION, First Half Ordinary Profit Decreases by 20%, July-September Ordinary Profit Decreases by 33%

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Tue Nov 5, 2024 4:00 pm JST Earnings

9845 PARKER CORPORATION 【J-GAAP】

Earnings Report

PARKER CORPORATION <9845> [TSE-S] announced its financial results after the market closed on November 5th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 19.6% from the same period last year to 1.85 billion yen. The progress rate against the 4.4 billion yen full-year plan was 42.3%, almost the same as the five-year average of 41.9%.

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 decrease by 6.2% from the same period last year to 2.54 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 763 million yen, a 33.0% decrease compared to the same period last year. However, the operating profit margin improved from 5.7% in the same period last year to 6.2%.

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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	27,388	1,460	1,665	1,057	42.2	43.7	Nov 7, 2022	J-GAAP
Apr - Sep, 2023	32,427	2,092	2,312	2,332	93.3	46.0	Nov 6, 2023	J-GAAP
Apr - Sep, 2024	35,067	2,207	1,859	1,330	53.2	42.3	Nov 5, 2024	J-GAAP
YoY	+8.1%	+5.5%	-19.6%	-43.0%	-43.0%

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	－	12.50	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	35,067	2,207	1,859	1,330	53.2	12.50	Nov 5, 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	35,306	2,463	2,710	1,269	50.7	11	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	38,933	1,993	2,541	1,770	70.7	12.50	Nov 5, 2024	J-GAAP
YoY	+10.3%	-19.1%	-6.2%	+39.5%	+39.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	56,786	3,655	3,809	2,478	99.0	18	May 11, 2023	J-GAAP
Mar, 2024	67,733	4,555	5,022	3,601	144.0	22	May 9, 2024	J-GAAP
Mar, 2025 Guidance	74,000	4,200	4,400	3,100	123.9	25	May 9, 2024	J-GAAP
YoY	+9.3%	-7.8%	-12.4%	-13.9%	-14.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	17,932	1,027	1,138	715	28.6	5.7	Nov 6, 2023	J-GAAP
Oct - Dec, 2023	19,113	1,558	1,597	466	18.6	8.2	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	16,193	905	1,113	803	32.1	5.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	16,904	1,075	1,096	746	29.9	6.4	Aug 5, 2024	J-GAAP
Jul - Sep, 2024	18,163	1,132	763	584	23.3	6.2	Nov 5, 2024	J-GAAP
YoY	+1.3%	+10.2%	-33.0%	-18.3%	-18.4%