トライアルホールディングス: F6/26期3Q決算：3QOPはセルサイドコンセンサスとほぼ同水準＆通期計画上方修正は事前期待値をやや下回る

Research evidence excerpt

トライアルホールディングス: F6/26期3Q決算：3QOPはセルサイドコンセンサスとほぼ同水準＆通期計画上方修正は事前期待値をやや下回る

UpdateM図表1: Earnings summary

New Old

(mn yen, stores, %) F6/2024 F6/2025 F6/2025 F6/2025 F6/2025 F6/2025 F6/2026 F6/2026 F62026 F6/2026 F6/2026 F6/2026

FY 1Q 2Q 3Q 4Q FY 1Q 2Q 3Q 4QCE FYCE FYCE

Sales 717,948 195,834 207,906 196,295 203,794 803,829 326,617 347,499 329,546 338,838 1,342,500 1,322,500

Gross profit 142,352 39,134 40,950 39,963 44,795 164,842 76,550 83,795 76,431 80,024 316,800 322,000

Other operating revenue 2,493 650 701 683 727 2,761 4,073 4,340 4,282 4,405 17,100 17,100

SG&A expenses 125,684 34,853 36,882 36,883 37,879 146,497 75,484 76,598 74,448 79,370 305,900 313,700

Operating profit 19,161 4,931 4,769 3,764 7,642 21,106 5,140 11,536 6,266 5,058 28,000 25,400

Recurring profit 19,789 5,266 5,358 3,869 7,507 22,000 3,247 11,214 5,630 -2,791 17,300 13,900

Net profit 11,439 3,160 2,972 2,242 3,378 11,752 -979 5,037 1,864 -5,422 500 500

Sales yoy% 9.9% 10.5% 11.8% 12.9% 12.8% 12.0% 66.8% 67.1% 67.9% 66.3% - -

Gross profit yoy% 13.6% 12.0% 11.8% 15.2% 24.1% 15.8% 95.6% 104.6% 91.3% 78.6% - -

SG&A expenses yoy% 10.6% 16.1% 18.1% 17.1% 15.0% 16.6% 116.6% 107.7% 101.8% 109.5% - -

Operating profit yoy% 37.2% -11.2% -20.7% -1.7% 103.1% 10.2% 4.2% 141.9% 66.5% -33.8% - -

GPM% 19.8% 20.0% 19.7% 20.4% 22.0% 20.5% 23.4% 24.1% 23.2% 23.6% 23.6% 24.3%

SG&A expenses to sales % 17.5% 17.8% 17.7% 18.8% 18.6% 18.2% 23.1% 22.0% 22.6% 23.4% 22.8% 23.7%

OPM% 2.7% 2.5% 2.3% 1.9% 3.7% 2.6% 1.6% 3.3% 1.9% 1.5% 2.1% 1.9%

TRIAL

Sales 717,948 195,834 207,906 196,295 203,793 803,829 215,220 229,639 217,445 222,496 884,800 869,800

Gross profit 142,352 39,134 40,950 39,963 44,795 164,842 47,859 50,734 47,304 49,203 195,100 196,800

(GPM%) 19.8% 20.0% 19.7% 20.4% 22.0% 20.5% 22.2% 22.1% 21.8% 22.1% 22.1% 22.6%