Odawara Engineering Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 47%

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Wed Nov 13, 2024 3:30 pm JST Earnings

6149 Odawara Engineering Co.,Ltd. 【J-GAAP】

Earnings Report

Odawara Engineering Co.,Ltd. <6149> [TSE-S] 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) dropped by 47.2% from the same period last year to 846 million yen. The progress rate against the 1.73 billion yen full-year plan was 48.9%, also falling below the five-year average of 61.6%.

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 expand by 67.7% from the same period last year, reaching 884 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 31.8% from the same period last year, reaching 286 million yen. However, the operating profit margin worsened from 6.6% in the same period last year to 5.9%.

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	8,945	557	700	518	91.3	62.6	Nov 11, 2022	J-GAAP
Jan - Sep, 2023	10,351	1,474	1,602	1,144	201.3	75.2	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	9,943	781	846	455	80.0	48.9	Nov 13, 2024	J-GAAP
YoY	-3.9%	-47.0%	-47.2%	-60.2%	-60.3%

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	6,776	699	744	536	94.3	50	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	11,865	1,233	1,170	798	139.8	50	Aug 13, 2024	J-GAAP
YoY	+75.1%	+76.4%	+57.3%	+48.9%	+48.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	14,086	967	1,118	801	141.2	25	Feb 14, 2023	J-GAAP
Dec, 2023	14,703	2,012	2,129	1,529	268.9	50	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	16,500	1,700	1,730	1,190	208.5	50	Feb 14, 2024	J-GAAP
YoY	+12.2%	-15.5%	-18.7%	-22.2%	-22.4%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,424	161	217	151	26.6	6.6	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	4,352	538	527	385	67.7	12.4	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	2,532	306	348	249	43.8	12.1	May 14, 2024	J-GAAP
Apr - Jun, 2024	2,103	161	212	143	25.2	7.7	Aug 13, 2024	J-GAAP
Jul - Sep, 2024	5,308	314	286	63	11.1	5.9	Nov 13, 2024	J-GAAP
YoY	+119.0%	+95.0%	+31.8%	-58.3%	-58.3%