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

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%

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