CareNet,Inc., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 19%

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Wed Nov 13, 2024 3:30 pm JST Earnings

2150 CareNet,Inc. 【J-GAAP】

Earnings Report

CareNet,Inc. <2150> [TSE-P] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) decreased by 19.4% from the same period last year to 1.42 billion yen. The progress rate against the 2.2 billion yen full-year plan was 65.0%, also falling below the five-year average of 73.0%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to grow by 10.9% from the same period last year, reaching 771 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit amounted to 446 million yen, an increase of 2.5% compared to the same period last year. However, the operating profit margin decreased from 18.5% in the same period last year to 16.3%.

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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	6,445	2,288	2,308	1,537	34.7	79.8	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	7,271	1,736	1,772	1,106	24.8	71.8	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	7,788	1,416	1,429	839	18.9	65.0	Nov 13, 2024	J-GAAP
YoY	+7.1%	-18.4%	-19.4%	-24.1%	-23.9%

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	5,221	1,110	1,130	651	14.6	12	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	6,451	1,214	1,217	943	21.8	12	Aug 13, 2024	J-GAAP
YoY	+23.6%	+9.4%	+7.7%	+44.9%	+48.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	9,327	2,851	2,894	1,847	41.7	6	Feb 13, 2023	J-GAAP
Dec, 2023	10,235	2,428	2,467	1,510	33.9	12	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	11,600	2,200	2,200	1,500	34.6	12	Feb 14, 2024	J-GAAP
YoY	+13.3%	-9.4%	-10.8%	-0.7%	+2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,257	418	435	247	5.5	18.5	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	2,964	692	695	404	9.1	23.3	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,667	545	563	310	7.0	20.4	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,482	441	420	247	5.5	17.8	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	2,639	430	446	282	6.4	16.3	Nov 13, 2024	J-GAAP
YoY	+16.9%	+2.9%	+2.5%	+14.2%	+14.6%