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CRESCO LTD., First Half Ordinary Profit Increases by 13%, July-September Ordinary Profit Increases by 8%

Wed Nov 6, 2024 4:00 pm JST Earnings

4674 CRESCO LTD. 【J-GAAP】

Earnings Report

CRESCO LTD. <4674> [TSE-P] announced its financial results after the market closed on November 6th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 13.2% from the same period last year, reaching 2.76 billion yen. However, The progress rate against the 6 billion yen full-year plan was 46.1%, almost the same as the five-year average of 45.4%.

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 nearly flat at 3.23 billion yen, up 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew by 7.8% from the same period last year, reaching 1.73 billion yen. The operating profit margin rose from 11.0% in the same period last year to 11.8%.

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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 23,309 2,245 2,116 1,467 34.9 41.2 Nov 7, 2022 J-GAAP
Apr - Sep, 2023 25,631 1,978 2,440 1,665 40.0 43.1 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 28,506 2,608 2,763 1,879 44.9 46.1 Nov 6, 2024 J-GAAP
YoY +11.2% +31.9% +13.2% +12.9% +12.0%

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 27,800 2,440 2,475 1,610 39.1 19 May 10, 2024 J-GAAP
Apr - Sep, 2024 Results 28,506 2,608 2,763 1,879 44.9 19 Nov 6, 2024 J-GAAP
Revision Rate +2.5% +6.9% +11.6% +16.7% +14.8%

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 27,124 3,143 3,218 2,063 49.8 13.50 May 10, 2024 J-GAAP
Oct - Mar, 2024 Guidance 29,994 3,292 3,237 2,121 51.4 19 Nov 6, 2024 J-GAAP
YoY +10.6% +4.7% +0.6% +2.8% +3.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 48,368 4,998 5,135 3,328 79.1 25 May 10, 2023 J-GAAP
Mar, 2024 52,755 5,121 5,658 3,728 90.1 26 May 10, 2024 J-GAAP
Mar, 2025 Guidance 58,500 5,900 6,000 4,000 97.0 38 May 10, 2024 J-GAAP
YoY +10.9% +15.2% +6.0% +7.3% +7.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 13,750 1,508 1,610 1,059 25.5 11.0 Nov 6, 2023 J-GAAP
Oct - Dec, 2023 12,913 1,320 1,447 733 17.7 10.2 Feb 5, 2024 J-GAAP
Jan - Mar, 2024 14,211 1,823 1,771 1,330 32.1 12.8 May 10, 2024 J-GAAP
Apr - Jun, 2024 13,758 870 1,027 756 18.4 6.3 Aug 6, 2024 J-GAAP
Jul - Sep, 2024 14,748 1,738 1,736 1,123 26.8 11.8 Nov 6, 2024 J-GAAP
YoY +7.3% +15.3% +7.8% +6.0% +5.3%

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