S Foods, Mar-Nov (Cumulative 3Q) Ordinary Profit Decreases by 65%, Sep-Nov Ordinary Profit Decreases by 70%

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Tue Jan 14, 2025 3:30 pm JST Earnings

2292 S Foods Inc. 【J-GAAP】

Earnings Report

S Foods Inc. <2292> [TSE Prime] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2025 (March to November) significantly dropped 64.6% from the same period last year to 4.23 billion yen. The progress rate toward the full-year plan of 8.3 billion yen was 51.1%, also falling below the five-year average of 75.6%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to February period (4Q) is expected to expand 67.2% from the same period last year, reaching 4.06 billion yen.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit significantly dropped to 0.76 billion yen, a 69.7% decrease compared to the same period last year. The operating profit margin worsened from 2.0% in the same period last year to 0.6%.

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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	295,375	10,626	11,913	7,041	222.7	75.2	Jan 13, 2023	J-GAAP
Mar - Nov, 2023	314,425	10,393	11,960	8,438	266.8	83.1	Jan 12, 2024	J-GAAP
Mar - Nov, 2024	328,067	3,298	4,238	1,476	46.7	51.1	Jan 14, 2025	J-GAAP
YoY	+4.3%	-68.3%	-64.6%	-82.5%	-82.5%

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	216,025	4,340	4,964	1,907	60.3	42	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	226,100	4,657	4,829	2,985	94.3	45	Oct 11, 2024	J-GAAP
YoY	+4.7%	+7.3%	-2.7%	+56.5%	+56.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	399,208	14,571	15,841	10,570	334.3	78	Apr 14, 2023	J-GAAP
Feb, 2024	425,011	12,673	14,390	9,073	286.9	84	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	445,000	7,300	8,300	4,200	132.7	89	Oct 11, 2024	J-GAAP
YoY	+4.7%	-42.4%	-42.3%	-53.7%	-53.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2023	105,439	2,060	2,534	1,272	40.2	2.0	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	110,586	2,280	2,430	635	20.1	2.1	Apr 15, 2024	J-GAAP
Mar - May, 2024	109,600	1,272	1,681	671	21.2	1.2	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	109,300	1,371	1,790	544	17.2	1.3	Oct 11, 2024	J-GAAP
Sep - Nov, 2024	109,167	655	767	261	8.3	0.6	Jan 14, 2025	J-GAAP
YoY	+3.5%	-68.2%	-69.7%	-79.5%	-79.5%