CUBE CO., LTD., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 59%, July-September Ordinary Profit Decreases by 64%

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Thu Nov 14, 2024 4:00 pm JST Earnings

7112 CUBE CO., LTD. 【J-GAAP】

Earnings Report

CUBE CO., LTD. <7112> [TSE-G] announced its financial results after the market closed on November 14th (16:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) significantly dropped by 59.1% from the same period last year to 152 million yen. The progress rate against the 230 million yen full-year plan was 66.1%, also falling below the same period of the previous year of 127.4%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the October to December period (4Q) is expected to turn into a profit of 78 million yen (compared to a loss of 80 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the ordinary profit significantly dropped to 61 million yen, a 63.9% decrease compared to the same period last year. The operating profit margin sharply declined from 13.1% in the same period last year to 5.1%.

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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	4,282	853	854	563	105.5	95.1	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	3,828	369	372	238	39.3	127.4	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	3,569	152	152	92	15.2	66.1	Nov 14, 2024	J-GAAP
YoY	-6.8%	-58.8%	-59.1%	-61.3%	-61.3%

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	2,326	90	89	58	9.6	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	2,827	149	139	96	15.8	0	Aug 14, 2024	J-GAAP
YoY	+21.5%	+65.6%	+56.2%	+65.5%	+64.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	5,559	907	898	609	110.6	0	Feb 14, 2023	J-GAAP
Dec, 2023	4,857	289	292	190	31.4	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	5,120	236	230	151	24.8	0	Feb 14, 2024	J-GAAP
YoY	+5.4%	-18.3%	-21.2%	-20.5%	-21.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	1,297	170	169	106	17.5	13.1	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	1,029	-80	-80	-48	-7.9	-7.8	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	1,225	44	43	27	4.5	3.6	May 15, 2024	J-GAAP
Apr - Jun, 2024	1,068	43	48	28	4.7	4.0	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	1,276	65	61	37	6.1	5.1	Nov 14, 2024	J-GAAP
YoY	-1.6%	-61.8%	-63.9%	-65.1%	-65.1%