Petgo Corporation, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 35% Decrease

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Thu Nov 14, 2024 3:30 pm JST Earnings

7140 Petgo Corporation 【J-GAAP】

Earnings Report

Petgo Corporation <7140> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 57.4% from the same period last year to 84 million yen.

In addition, the full-year consolidated ordinary profit has downwardly by 48.9%, from the previous forecast of 305 million yen to 156 million yen (compared to 241 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 35.3% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 63.6% from the same period last year, reaching 72 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 54 million yen, a 45.5% decrease compared to the same period last year. The operating profit margin worsened from 4.0% in the same period last year to 2.6%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	5,003	194	191	131	75.8	83.0	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	5,052	200	197	138	74.9	81.7	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	4,536	90	84	53	28.5	53.8	Nov 14, 2024	J-GAAP
YoY	-10.2%	-55.0%	-57.4%	-61.6%	-61.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	0	May 15, 2024	J-GAAP
Apr - Sep, 2024 Results	4,536	90	84	53	28.5	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	10,395	313	305	212	113.2	0	May 15, 2024	J-GAAP
Mar, 2025 New	8,931	158	156	102	54.5	0	Nov 14, 2024	J-GAAP
Revision Rate	-14.1%	-49.5%	-48.9%	-51.9%	-51.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	4,853	47	44	34	18.4	0	May 15, 2024	J-GAAP
Oct - Mar, 2024 Guidance	4,395	68	72	49	26.2	0	Nov 14, 2024	J-GAAP
YoY	-9.4%	+44.7%	+63.6%	+44.1%	+42.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,025	236	230	153	85.8	0	May 15, 2023	J-GAAP
Mar, 2024	9,905	247	241	172	93.1	0	May 15, 2024	J-GAAP
Mar, 2025 Guidance	8,931	158	156	102	54.5	0	Nov 14, 2024	J-GAAP
YoY	-9.8%	-36.0%	-35.3%	-40.7%	-41.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,511	100	99	68	36.9	4.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	2,520	21	19	11	6.0	0.8	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	2,333	26	25	23	12.5	1.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	2,266	32	30	20	11.1	1.4	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	2,270	58	54	33	17.8	2.6	Nov 14, 2024	J-GAAP
YoY	-9.6%	-42.0%	-45.5%	-51.5%	-51.9%