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CROSS PLUS, Feb-Oct (Third Quarter Cumulative) Ordinary Profit Decreases by 29%, Exceeds Full-Year Plan

Fri Dec 13, 2024 3:30 pm JST Earnings

3320 CROSS PLUS INC. 【J-GAAP】

Earnings Report

CROSS PLUS INC. <3320> [TSE Std] announced its financial results after the market closed on December 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending January 2025 (February to October) decreased 28.8% from the same period last year to 1.53 billion yen. The progress rate toward the full-year plan of 1.35 billion yen is 113.3%, but was lower than the the five-year average of 120.5%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary loss for the November to January period (4Q) is expected to nearly flat at loss of 180 million yen (compared to a loss of 174 million yen in the same period last year).

In the most recent three-month period, from August to October (3Q), the consolidated ordinary profit dropped to 533 million yen, a 46.9% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.5% in the same period last year to 2.3%.

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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
Feb - Oct, 2022 42,798 484 683 824 112.5 165.4 Dec 9, 2022 J-GAAP
Feb - Oct, 2023 45,330 2,023 2,148 2,124 289.0 108.8 Dec 8, 2023 J-GAAP
Feb - Oct, 2024 47,310 1,308 1,530 1,215 164.6 113.3 Dec 13, 2024 J-GAAP
YoY +4.4% -35.3% -28.8% -42.8% -43.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2023 32,643 756 830 810 110.1 15 Mar 15, 2024 J-GAAP
Aug - Jan, 2024 Guidance 32,384 307 353 346 46.8 15 Sep 13, 2024 J-GAAP
YoY -0.8% -59.4% -57.5% -57.3% -57.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2023 57,056 183 413 455 62.1 12 Mar 17, 2023 J-GAAP
Jan, 2024 60,190 1,797 1,974 2,064 280.5 27 Mar 15, 2024 J-GAAP
Jan, 2025 Guidance 62,000 1,200 1,350 1,100 148.7 30 Mar 15, 2024 J-GAAP
YoY +3.0% -33.2% -31.6% -46.7% -47.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Aug - Oct, 2023 17,783 982 1,004 870 118.4 5.5 Dec 8, 2023 J-GAAP
Nov - Jan, 2023 14,860 -226 -174 -60 -8.2 -1.5 Mar 15, 2024 J-GAAP
Feb - Apr, 2024 15,734 738 759 506 68.7 4.7 Jun 14, 2024 J-GAAP
May - Jul, 2024 13,882 155 238 248 33.6 1.1 Sep 13, 2024 J-GAAP
Aug - Oct, 2024 17,694 415 533 461 62.5 2.3 Dec 13, 2024 J-GAAP
YoY -0.5% -57.7% -46.9% -47.0% -47.2%

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