CVS Bay Area, Mar-Nov (Cumulative 3Q) Net Income Increases by 2.3 times

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Fri Jan 10, 2025 4:00 pm JST Earnings

2687 CVS Bay Area Inc. 【J-GAAP】

Earnings Report

CVS Bay Area Inc. <2687> [TSE Std] announced its financial results after the market closed on January 10th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending February 2025 (March to November) surged 2.3 times that of the same period last year, reaching 0.91 billion yen. The progress rate toward the full-year plan of 1 billion yen was 91.2%, also surpassing the progress rate of 56.4% from the same period of the previous year.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the December to February period (4Q) is expected to significant drop 70.7% from the same period last year to 0.08 billion yen.

In the most recent three-month period, from September to November (3Q), the consolidated net income dropped to 0.1 billion yen, a 32.5% decrease compared to the same period last year. The operating profit margin worsened from 8.7% in the same period last year to 8.1%.

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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
Mar - Nov, 2022	5,124	12	-18	-80	-16.3	ー	Jan 11, 2023	J-GAAP
Mar - Nov, 2023	5,658	446	464	393	79.7	110.5	Jan 10, 2024	J-GAAP
Mar - Nov, 2024	5,958	449	446	919	186.3	116.8	Jan 10, 2025	J-GAAP
YoY	+5.3%	+0.7%	-3.9%	+133.8%	+133.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	3,768	206	109	458	92.9	10	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	3,867	160	69	193	39.1	10	Oct 11, 2024	J-GAAP
YoY	+2.6%	-22.3%	-36.7%	-57.9%	-57.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	6,926	81	47	-13	-2.7	16	Apr 12, 2023	J-GAAP
Feb, 2024	7,519	486	420	697	141.3	20	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	7,768	442	382	1,008	204.2	20	Jul 9, 2024	J-GAAP
YoY	+3.3%	-9.1%	-9.0%	+44.6%	+44.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	1,907	166	153	154	31.2	8.7	Jan 10, 2024	J-GAAP
Dec - Feb, 2023	1,861	40	-44	304	61.6	2.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	1,997	193	203	156	31.7	9.7	Jul 10, 2024	J-GAAP
Jun - Aug, 2024	1,904	89	110	659	133.6	4.7	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	2,057	167	133	104	21.1	8.1	Jan 10, 2025	J-GAAP
YoY	+7.9%	+0.6%	-13.1%	-32.5%	-32.5%