Tama Home (1419) Q3 2024 earnings summary

Executive summary

• 9M FY2024 net sales and profit declined as fewer custom-home deliveries weighed on results; detached-home sales and renovation grew.

• Full-year plan remained unchanged, with management expecting results to be weighted toward Q4.

Financial highlights

• Net sales were ¥152,508m, down 12.3% YoY; gross profit was ¥35,917m, versus ¥41,393m.

• Operating profit was ¥1,459m, down 81.1% YoY; SG&A was ¥34,457m, versus ¥33,682m.

• Ordinary profit was ¥1,696m, down 78.6%; profit attributable to owners was ¥763m, down 85.0%.

• Basic EPS was ¥26.33, versus ¥173.77; comprehensive income was ¥693m, versus ¥5,102m.

Outlook and guidance

• FY ending May 31, 2024 forecast: net sales ¥257,000m, operating and ordinary profit ¥14,100m each, and parent-attributable profit ¥9,200m; forecast unchanged.

• 3Q progress was 59.3% of planned revenue, 10.4% of operating profit, 12.0% of ordinary profit and 8.3% of net income; results expected to be Q4-weighted.