S&B FOODS, The Current Fiscal Year Ordinary Profit Revised Upward by 5%

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Fri Jan 31, 2025 2:00 pm JST Earnings

2805 S&B FOODS INC. 【J-GAAP】

Earnings Report

S&B FOODS INC. <2805> [TSE Std] announced its financial results in the afternoon session on January 31st (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 9.68 billion yen, an increase 31.1% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 4.6%, from the previous forecast of 8.7 billion yen to 9.1 billion yen (compared to 8.07 billion yen in the previous period), increasing the growth rate from 7.7% to 12.6%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 10.8%, from the previous forecast of 3.7 billion yen to 4.1 billion yen (compared to 4.56 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 18.9% to 10.1%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 20.9% from the same period last year, reaching 4.69 billion yen. The operating profit margin rose from 11.2% in the same period last year to 12.2%.

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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
Apr - Dec, 2022	93,853	5,637	5,762	4,249	172.2	105.4	Jan 31, 2023	J-GAAP
Apr - Dec, 2023	97,917	7,171	7,393	5,290	218.9	91.5	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	96,521	9,289	9,689	6,976	288.7	106.5	Jan 31, 2025	J-GAAP
YoY	-1.4%	+29.5%	+31.1%	+31.9%	+31.9%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	61,509	3,599	3,701	3,141	130.0	18.50	Nov 1, 2024	J-GAAP
Oct - Mar, 2024 New	62,009	3,999	4,101	3,141	130.0	18.50	Jan 31, 2025	J-GAAP
Revision Rate	+0.8%	+11.1%	+10.8%	0.0%	0.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	123,000	8,600	8,700	6,800	281.4	37	Nov 1, 2024	J-GAAP
Mar, 2025 New	123,500	9,000	9,100	6,800	281.4	37	Jan 31, 2025	J-GAAP
Revision Rate	+0.4%	+4.7%	+4.6%	0.0%	0.0%

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	63,286	4,501	4,564	4,307	178.2	17.50	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	62,009	3,999	4,101	3,141	130.0	18.50	Jan 31, 2025	J-GAAP
YoY	-2.0%	-11.2%	-10.1%	-27.1%	-27.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	120,651	5,399	5,465	4,080	166.1	27	May 12, 2023	J-GAAP
Mar, 2024	126,443	7,778	8,079	6,717	278.0	33	May 10, 2024	J-GAAP
Mar, 2025 Guidance	123,500	9,000	9,100	6,800	281.4	37	Jan 31, 2025	J-GAAP
YoY	-2.3%	+15.7%	+12.6%	+1.2%	+1.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	34,760	3,894	3,878	2,880	119.2	11.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	28,526	607	686	1,427	59.1	2.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	31,039	3,142	3,459	2,464	102.0	10.1	Jul 31, 2024	J-GAAP
Jul - Sep, 2024	30,452	1,859	1,540	1,195	49.5	6.1	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	35,030	4,288	4,690	3,317	137.3	12.2	Jan 31, 2025	J-GAAP
YoY	+0.8%	+10.1%	+20.9%	+15.2%	+15.2%