Earth Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 84%

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Mon Nov 11, 2024 3:30 pm JST Earnings

4985 Earth Corporation 【J-GAAP】

Earnings Report

Earth Corporation <4985> [TSE-P] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 11.1% from the same period last year, reaching 11 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 84.0%, from the previous forecast of 3.56 billion yen to 6.55 billion yen (compared to 6.79 billion yen in the previous period), and the declining rate is expected to decrease from 47.6% to 3.5%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised upward from an expected loss of 7.77 billion yen to a loss of 4.78 billion yen (compared to a loss of 3.63 billion yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary loss improved to a deficit of loss of 294 million yen (compared to a loss of 478 million yen in the same period last year). The operating profit/loss margin improved from -1.9% in the same period last year to -0.2%.

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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	124,445	12,013	12,899	8,635	391.6	158.6	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	126,769	9,217	9,944	6,448	291.8	146.4	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	134,858	10,685	11,045	7,236	328.7	168.6	Nov 11, 2024	J-GAAP
YoY	+6.4%	+15.9%	+11.1%	+12.2%	+12.6%

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	67,905	-7,758	-7,779	-5,853	-268.8	120	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	70,905	-4,758	-4,789	-4,343	-199.4	120	Nov 11, 2024	J-GAAP
Revision Rate	+4.4%	+38.7%	+38.4%	+25.8%	+25.8%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	165,000	3,000	3,560	1,790	82.2	120	May 10, 2024	J-GAAP
Dec, 2024 New	168,000	6,000	6,550	3,300	151.5	120	Nov 11, 2024	J-GAAP
Revision Rate	+1.8%	+100.0%	+84.0%	+84.4%	+84.4%

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	68,015	-3,551	-3,631	-2,938	-132.9	118	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	70,905	-4,758	-4,789	-4,343	-199.4	120	Nov 11, 2024	J-GAAP
YoY	+4.2%	-34.0%	-31.9%	-47.8%	-50.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	152,339	7,434	8,133	5,303	240.5	118	Feb 13, 2023	J-GAAP
Dec, 2023	158,344	6,370	6,791	4,102	185.6	118	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	168,000	6,000	6,550	3,300	151.5	120	Nov 11, 2024	J-GAAP
YoY	+6.1%	-5.8%	-3.5%	-19.6%	-18.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	36,440	-704	-478	-592	-26.8	-1.9	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	31,575	-2,847	-3,153	-2,346	-106.1	-9.0	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	42,049	4,978	5,148	3,530	159.5	11.8	May 10, 2024	J-GAAP
Apr - Jun, 2024	55,046	5,780	6,191	4,113	185.9	10.5	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	37,763	-73	-294	-407	-18.5	-0.2	Nov 11, 2024	J-GAAP
YoY	+3.6%	+89.6%	+38.5%	+31.3%	+31.0%