UNION TOOL CO., The Current Fiscal Year Ordinary Profit Revised Downward by 3%

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Mon Nov 11, 2024 3:00 pm JST Earnings

6278 UNION TOOL CO. 【J-GAAP】

Earnings Report

UNION TOOL CO. <6278> [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 4.82 billion yen, an increase of 52.1% compared to the same period last year.

However, the full-year consolidated ordinary profit has downwardly by 3.0%, from the previous forecast of 6.7 billion yen to 6.5 billion yen (compared to 4.07 billion yen in the previous period), leading to a reduction in the profit growth rate from 64.5% to 59.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has downwardly by 6.0%, from the previous forecast of 3.33 billion yen to 3.13 billion yen (compared to 1.9 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 74.9% to 64.4%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 45.0% from the same period last year, reaching 1.46 billion yen. The operating profit margin rose from 14.8% in the same period last year to 16.4%.

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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
Jan - Sep, 2022	23,100	5,515	5,748	4,209	243.7	85.3	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	18,979	3,035	3,172	2,355	136.3	77.9	Nov 8, 2023	J-GAAP
Jan - Sep, 2024	22,825	4,258	4,824	3,562	206.2	74.2	Nov 11, 2024	J-GAAP
YoY	+20.3%	+40.3%	+52.1%	+51.3%	+51.3%

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	14,206	3,292	3,338	2,073	120.0	45	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	14,306	3,092	3,138	1,973	114.2	45	Nov 11, 2024	J-GAAP
Revision Rate	+0.7%	-6.1%	-6.0%	-4.8%	-4.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	30,000	6,400	6,700	4,600	266.3	90	Aug 7, 2024	J-GAAP
Dec, 2024 New	30,100	6,200	6,500	4,500	260.5	90	Nov 11, 2024	J-GAAP
Revision Rate	+0.3%	-3.1%	-3.0%	-2.2%	-2.2%

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	13,020	1,730	1,909	1,457	84.4	42	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	14,306	3,092	3,138	1,973	114.2	45	Nov 11, 2024	J-GAAP
YoY	+9.9%	+78.7%	+64.4%	+35.4%	+35.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	29,091	6,190	6,737	4,996	289.2	84	Feb 14, 2023	J-GAAP
Dec, 2023	25,338	3,778	4,073	3,077	178.2	84	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	30,100	6,200	6,500	4,500	260.5	90	Nov 11, 2024	J-GAAP
YoY	+18.8%	+64.1%	+59.6%	+46.2%	+46.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	6,661	987	1,008	735	42.6	14.8	Nov 8, 2023	J-GAAP
Oct - Dec, 2023	6,359	743	901	722	41.8	11.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	7,423	1,422	1,630	1,198	69.4	19.2	May 13, 2024	J-GAAP
Apr - Jun, 2024	8,371	1,686	1,732	1,329	76.9	20.1	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	7,031	1,150	1,462	1,035	59.9	16.4	Nov 11, 2024	J-GAAP
YoY	+5.6%	+16.5%	+45.0%	+40.8%	+40.8%