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

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 42,572 47,189 30,369 210.7 87.4 Nov 12, 2024 J-GAAP
YoY +17.4% +19.7% +8.8% +1.2% +1.7%

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 15,004 17,737 9,222 63.7 14.1 May 10, 2024 J-GAAP
Apr - Jun, 2024 111,747 12,407 14,511 10,273 71.0 11.1 Aug 7, 2024 J-GAAP
Jul - Sep, 2024 113,176 15,161 14,941 10,874 75.4 13.4 Nov 12, 2024 J-GAAP
YoY +15.1% +19.6% +2.0% +7.5% +8.0%

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