INPEX CORPORATION, The Current Fiscal Year Net Income Revised Upward by 6%

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Tue Nov 12, 2024 3:00 pm JST Earnings

1605 INPEX CORPORATION 【J-GAAP】

Earnings Report

INPEX CORPORATION <1605> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 12th (15:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 8.7% from the same period last year, reaching 289 billion yen.

In addition, the full-year consolidated net income has been revised upward by 5.6%, from the previous forecast of 360 billion yen to 380 billion yen (compared to 321 billion yen in the previous period), increasing the growth rate from 11.9% to 18.1%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the July to December period (second half) is expected to increase by 13.6%, from the previous forecast of 147 billion yen to 167 billion yen (compared to 73.2 billion yen in the same period of the previous year), increasing the growth rate from 2.0 times to 2.3 times.

In the most recent three-month period, from July to September (3Q), the consolidated net income surged to 4.3 times that of the same period last year, reaching 76.8 billion yen. The operating profit margin jumped from 39.7% in the same period last year to 57.1%.

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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	1,698,743	915,892	1,027,783	266,661	193.1	71.3	Nov 8, 2022	J-GAAP
Jan - Sep, 2023	1,602,224	814,945	923,502	266,212	204.3	73.7	Nov 9, 2023	IFRS
Jan - Sep, 2024	1,747,557	1,018,079	1,048,412	289,422	231.9	82.6	Nov 12, 2024	IFRS
YoY	+9.1%	+24.9%	+13.5%	+8.7%	+13.5%

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	1,063,139	548,929	568,784	147,414	123.1	43	Aug 8, 2024	IFRS
Jul - Dec, 2024 New	1,052,139	523,929	555,784	167,414	139.8	43	Nov 12, 2024	IFRS
Revision Rate	-1.0%	-4.6%	-2.3%	+13.6%	+13.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	2,254,000	1,249,000	1,282,000	360,000	300.6	86	Aug 8, 2024	IFRS
Dec, 2024 New	2,243,000	1,224,000	1,269,000	380,000	317.3	86	Nov 12, 2024	IFRS
Revision Rate	-0.5%	-2.0%	-1.0%	+5.6%	+5.6%

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	1,085,522	506,941	543,879	73,215	56.6	37	Feb 13, 2024	IFRS
Jul - Dec, 2024 Guidance	1,052,139	523,929	555,784	167,414	139.8	43	Nov 12, 2024	IFRS
YoY	-3.1%	+3.4%	+2.2%	+128.7%	+147.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	2,324,660	1,246,408	1,441,995	461,069	337.4	62	Feb 9, 2023	J-GAAP
Dec, 2023	2,164,516	1,114,189	1,253,384	321,708	248.6	74	Feb 13, 2024	IFRS
Dec, 2024 Guidance	2,243,000	1,224,000	1,269,000	380,000	317.3	86	Nov 12, 2024	IFRS
YoY	+3.6%	+9.9%	+1.2%	+18.1%	+27.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	523,230	207,697	213,997	17,719	13.6	39.7	Nov 9, 2023	IFRS
Oct - Dec, 2023	562,292	299,244	329,882	55,496	42.9	53.2	Feb 13, 2024	IFRS
Jan - Mar, 2024	596,800	380,102	372,923	121,829	96.8	63.7	May 14, 2024	IFRS
Apr - Jun, 2024	594,061	319,969	340,293	90,757	72.3	53.9	Aug 8, 2024	IFRS
Jul - Sep, 2024	556,696	318,008	335,196	76,836	61.6	57.1	Nov 12, 2024	IFRS
YoY	+6.4%	+53.1%	+56.6%	+333.6%	+352.7%