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CMC, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 18% Decrease

Tue May 13, 2025 3:00 pm JST Earnings

2185 CMC CORPORATION 【J-GAAP】

Earnings Report

CMC CORPORATION <2185> [TSE Std] announced its financial results in the afternoon session on May 13th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending September 2025 (October 2024 to March 2025) was 1.48 billion yen, a 1.4% increase compared to the same period last year, resulting in an increase in profits compared to the previous forecast of a 0.1% decrease.

However, the full-year consolidated ordinary profit has decreased 29.7%, from the previous forecast of 3.7 billion yen to 2.6 billion yen (compared to 3.18 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of an 18.3% 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 April to September period (2H) is expected to drop 35.0% from the same period last year to 1.11 billion yen.

In the most recent three-month period, from January to March (2Q), the consolidated ordinary profit decreased to 0.95 billion yen, a 26.8% decrease compared to the same period last year. The operating profit margin decreased from 20.2% in the same period last year to 17.4%.

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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
Oct - Mar, 2022 10,012 1,786 1,745 1,173 88.5 60.7 May 12, 2023 J-GAAP
Oct - Mar, 2023 9,634 1,538 1,461 955 72.1 45.9 May 13, 2024 J-GAAP
Oct - Mar, 2024 8,935 1,167 1,482 980 74.3 57.0 May 13, 2025 J-GAAP
YoY -7.3% -24.1% +1.4% +2.6% +3.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Guidance 10,000 1,400 1,460 900 68.9 24 Nov 11, 2024 J-GAAP
Oct - Mar, 2024 Results 8,935 1,167 1,482 980 74.3 24 May 13, 2025 J-GAAP
Revision Rate -10.7% -16.6% +1.5% +8.9% +7.8%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2025 Prev 22,000 3,600 3,700 2,400 185.4 52 Nov 11, 2024 J-GAAP
Sep, 2025 New 18,000 2,400 2,600 1,850 142.9 52 May 13, 2025 J-GAAP
Revision Rate -18.2% -33.3% -29.7% -22.9% -22.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 9,889 1,437 1,721 1,123 84.7 44 Nov 11, 2024 J-GAAP
Apr - Sep, 2025 Guidance 9,065 1,233 1,118 870 67.2 28 May 13, 2025 J-GAAP
YoY -8.3% -14.2% -35.0% -22.5% -20.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2023 18,451 2,617 2,873 1,762 133.0 38 Nov 10, 2023 J-GAAP
Sep, 2024 19,523 2,975 3,182 2,078 156.7 44 Nov 11, 2024 J-GAAP
Sep, 2025 Guidance 18,000 2,400 2,600 1,850 142.9 52 May 13, 2025 J-GAAP
YoY -7.8% -19.3% -18.3% -11.0% -8.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 5,962 1,206 1,304 861 65.0 20.2 May 13, 2024 J-GAAP
Apr - Jun, 2024 4,076 249 364 167 12.6 6.1 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 5,813 1,188 1,357 956 72.1 20.4 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 3,713 260 528 346 26.1 7.0 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 5,222 907 954 634 48.1 17.4 May 13, 2025 J-GAAP
YoY -12.4% -24.8% -26.8% -26.4% -26.0%

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