Daiwa Heavy Industry Co.,Ltd., July-September (3Q) Ordinary Profit Turns to Loss, Postponed Dividend for This Fiscal Year

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Mon Nov 11, 2024 5:30 pm JST Earnings

5610 Daiwa Heavy Industry Co.,Ltd. 【J-GAAP】

Earnings Report

Daiwa Heavy Industry Co.,Ltd. <5610> [TSE-S] announced its financial results after the market closed on November 11th (17:30). The ordinary profit/loss (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a loss of 17 million yen (compared to a profit of 79 million yen in the same period last year).

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to December period (4Q) is expected to expand by 54.2% from the same period last year, reaching 37 million yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the year-end lump-sum dividend of undecided for the current fiscal year.

In the most recent three-month period, from July to September (3Q), the ordinary profit/loss turned to a loss of 37 million yen (compared to a profit of 33 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.0% in the same period last year to -6.4%.

Kabutan News

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	2,771	-79	1	-8	-6.3	1.6	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	3,135	-5	79	59	45.5	76.7	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	3,055	-117	-17	-37	-28.3	ー	Nov 11, 2024	J-GAAP
YoY	-2.6%	-2,240.0%	－	－	－

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	2,096	-74	0	2	1.5	－	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	2,096	-74	0	2	1.5	0	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	－	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	4,200	-130	20	1	0.8	－	Aug 9, 2024	J-GAAP
Dec, 2024 New	4,200	-130	20	1	0.8	0	Nov 11, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	0.0%

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	2,410	-12	57	33	25.2	0	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,096	-74	0	2	1.5	0	Nov 11, 2024	J-GAAP
YoY	-13.0%	-516.7%	－	-93.9%	-94.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	3,865	-61	63	70	53.8	0	Feb 13, 2023	J-GAAP
Dec, 2023	4,382	-29	103	66	50.3	0	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	4,200	-130	20	1	0.8	0	Nov 11, 2024	J-GAAP
YoY	-4.2%	-348.3%	-80.6%	-98.5%	-98.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,163	12	33	26	20.1	1.0	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	1,247	-24	24	7	5.3	-1.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	977	-46	-25	-17	-13.3	-4.7	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,127	-10	45	16	23.8	-0.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	951	-61	-37	-36	-27.6	-6.4	Nov 11, 2024	J-GAAP
YoY	-18.2%	－	－	－	－