TADANO LTD., The Current Fiscal Year Ordinary Profit Revised Upward by 18%

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Mon Nov 11, 2024 3:00 pm JST Earnings

6395 TADANO LTD. 【J-GAAP】

Earnings Report

TADANO LTD. <6395> [TSE-P] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 17.1 billion yen, an increase of 46.7% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward by 17.6%, from the previous forecast of 17 billion yen to 20 billion yen (compared to 16.3 billion yen in the previous period), increasing the growth rate from 3.9% to 22.2%. However, the full-year consolidated net income has downwardly by 31.6%, from the previous forecast of 9.5 billion yen to 6.5 billion yen (compared to 7.77 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 16.4% decrease in profit.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) is expected to increase by 49.5%, from the previous forecast of 6.05 billion yen to 9.05 billion yen (compared to 8.54 billion yen in the same period of the previous year), turning to a 6.0% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 60.3% from the same period last year, reaching 6.19 billion yen. The operating profit margin significantly improved from 6.2% in the same period last year to 10.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022 Changed	192,932	7,191	6,540	2,210	17.4	40.0	Feb 14, 2023	J-GAAP
Jan - Sep, 2023	203,922	13,193	11,683	4,937	38.9	71.4	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	212,689	19,408	17,136	8,779	69.1	85.7	Nov 11, 2024	J-GAAP
YoY	+4.3%	+47.1%	+46.7%	+77.8%	+77.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	173,619	7,717	6,058	4,315	33.9	13	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	148,619	10,717	9,058	1,315	10.3	13	Nov 11, 2024	J-GAAP
Revision Rate	-14.4%	+38.9%	+49.5%	-69.5%	-69.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	315,000	20,000	17,000	9,500	74.7	23	Feb 14, 2024	J-GAAP
Dec, 2024 New	290,000	23,000	20,000	6,500	51.1	23	Nov 11, 2024	J-GAAP
Revision Rate	-7.9%	+15.0%	+17.6%	-31.6%	-31.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	146,999	9,552	8,547	4,523	35.7	15	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	148,619	10,717	9,058	1,315	10.3	13	Nov 11, 2024	J-GAAP
YoY	+1.1%	+12.2%	+6.0%	-70.9%	-71.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022 Changed	192,932	7,191	6,540	2,210	17.4	8	Feb 14, 2023	J-GAAP
Dec, 2023	280,266	18,349	16,367	7,773	61.3	19	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	290,000	23,000	20,000	6,500	51.1	23	Nov 11, 2024	J-GAAP
YoY	+3.5%	+25.3%	+22.2%	-16.4%	-16.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	70,655	4,396	3,863	1,687	13.3	6.2	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	76,344	5,156	4,684	2,836	22.4	6.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	62,460	5,625	4,667	2,014	15.9	9.0	May 14, 2024	J-GAAP
Apr - Jun, 2024	78,921	6,658	6,275	3,171	25.0	8.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	71,308	7,125	6,194	3,594	28.3	10.0	Nov 11, 2024	J-GAAP
YoY	+0.9%	+62.1%	+60.3%	+113.0%	+112.8%