HOSHIZAKI CORPORATION, The Current Fiscal Year Ordinary Profit Revised Upward to an Unexpected 7% Increase, Adds to Record High Profit

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Tue Nov 12, 2024 3:30 pm JST Earnings

6465 HOSHIZAKI CORPORATION 【J-GAAP】

Earnings Report

HOSHIZAKI CORPORATION <6465> [TSE-P] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 9.6% from the same period last year, reaching 47.5 billion yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 17.4%, from the previous forecast of 46 billion yen to 54 billion yen (compared to 50.3 billion yen in the previous period), record profits reach three consecutive terms, turning to a 7.3% increase in the consolidated ordinary profit outlook.

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 58.2%, from the previous forecast of 13.7 billion yen to 21.7 billion yen (compared to 21.5 billion yen in the same period of the previous year), turning to a 0.8% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit grew by 4.5% from the same period last year, reaching 15.3 billion yen. The operating profit margin rose from 12.9% in the same period last year to 13.7%.

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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	239,037	23,005	38,317	26,257	181.3	102.9	Nov 9, 2022	J-GAAP
Jan - Sep, 2023	282,154	35,577	43,380	30,016	207.2	86.2	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	331,263	42,934	47,550	30,589	212.2	88.1	Nov 12, 2024	J-GAAP
YoY	+17.4%	+20.7%	+9.6%	+1.9%	+2.4%

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	191,913	16,589	13,752	13,505	94.7	50	Aug 7, 2024	J-GAAP
Jul - Dec, 2024 New	211,913	21,089	21,752	14,505	101.7	50	Nov 12, 2024	J-GAAP
Revision Rate	+10.4%	+27.1%	+58.2%	+7.4%	+7.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	410,000	44,000	46,000	33,000	231.3	95	Feb 13, 2024	J-GAAP
Dec, 2024 New	430,000	48,500	54,000	34,000	238.3	95	Nov 12, 2024	J-GAAP
Revision Rate	+4.9%	+10.2%	+17.4%	+3.0%	+3.0%

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	189,772	20,619	21,585	12,939	89.3	65	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	211,913	21,089	21,752	14,505	101.7	50	Nov 12, 2024	J-GAAP
YoY	+11.7%	+2.3%	+0.8%	+12.1%	+13.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	321,338	27,378	37,226	23,977	165.5	70	Feb 10, 2023	J-GAAP
Dec, 2023	373,563	43,520	50,322	32,835	226.7	95	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	430,000	48,500	54,000	34,000	238.3	95	Nov 12, 2024	J-GAAP
YoY	+15.1%	+11.4%	+7.3%	+3.5%	+5.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	98,363	12,676	14,643	10,120	69.9	12.9	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	91,409	7,943	6,942	2,819	19.5	8.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	106,340	15,162	17,895	9,206	63.6	14.3	May 10, 2024	J-GAAP
Apr - Jun, 2024	111,747	12,249	14,353	10,289	71.1	11.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	113,176	15,523	15,302	11,094	77.0	13.7	Nov 12, 2024	J-GAAP
YoY	+15.1%	+22.5%	+4.5%	+9.6%	+10.2%